Survey
Sept. 24, 2025
“Likely, it is the fall in uncertainty that helped boost optimism in the third quarter,” said Sonya Ravindranath Waddell, vice president and economist with the Federal Reserve Bank of Richmond. “The return of optimism and GDP expectations to levels more in line with the beginning of 2024 is reassuring. But concern about tariffs is real and impactful for many CFOs in the survey.” View the full results >
Uncertainty Declines, Tariffs Persist: Measuring the Impact of Tariffs on CFOs' Price and Cost Growth Forecasts
Sept. 24, 2025
Financial decision-makers’ concern over trade and tariff policy subsided somewhat in the most recent CFO Survey, yet it remains higher than in prior years. When asked for the most pressing concerns facing their firms, 30 percent of respondents cited tariffs or trade policy. This is down from the previous quarter, but it remains the largest single concern cited by CFOs. Read more in Research & Commentary >
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