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Axios reports that a new survey of the CFO community by Deloitte released today reveals that "as the global economy roils from what feels like a relentless series of economic and geopolitical shocks — the era of the polycrisis — executives at some of the world's biggest companies are increasingly anxious … That often means taking fewer chances, pulling back on investment and hiring; the kinds of actions that could trigger the downturn they fear."

Steve Gallucci, Deloitte's Global and US CFO Program Leader, tells Axios that "the aversion to risk means that companies are less willing to do big deals, increase capital investment or take on more leverage."

"Looking inside their companies," Axios writes, "CFOs are worried about hiring in a tight labor market.  Looking externally, they're nervous about geopolitics — war, supply chain shocks, climate."

KC's View:

I met a guy this week (I'm hoping to have him on MNB as a guest in the new year) who has written a book about how it is almost always more dangerous to avoid risk than it is to embrace it.

This goes back to something we talk about a lot here on MNB - how companies that invest and innovate in tough moments like these often can find them to be defining moments.