FedEx CEO says he expects the economy to enter a ‘worldwide recession’
Posted on AllSides September 16th, 2022
From The Center
FedEx CEO Raj Subramaniam told CNBC’s Jim Cramer on Thursday that he believes a recession is impending for the global economy.
“I think so. But you know, these numbers, they don’t portend very well,” Subramaniam said in response to Cramer’s question of whether the economy is “going into a worldwide recession.”
The CEO’s pessimism came after FedEx missed estimates on revenue and earnings in its first quarter. The company also withdrew its full year guidance.
Shares of FedEx fell 15% in extended trading on Thursday.
“I’m very disappointed in the results that we...
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