The Business Roundtable's survey of American CEOs shows optimism that we haven't experienced in quite a long time. The CEOs' economic outlook is now more bullish than it's been in the entire history of the survey, dating back to 2002. The previous highwater mark had been back in February 2005.
At the same time, the head of the IMF warned in a speech in Botswana that the global economic recovery may be headed for "considerable downside risk." The emerging markets that are leading the recovery in many parts of the world are facing inflationary pressures, large capital flows and other factors that have brought a great amount of uncertainty into their futures.
That kind of global uncertainty will likely affect us as well, in terms of things like commodities prices. The ideal situation would involve our own economy reaching full strength, as the Business Roundtable foresees, before the renewed international issues begin to act as too much of a drag on it.
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