The chief financial officers for two of the U.S.’s largest car companies — General Motors Co. GM, -8.07% and Ford Motor Co. F, -8.31% — say consumer demand remains strong, but they are watching for signs of a U.S. recession. At a Deutsche Bank conference Wednesday, Ford CFO John Lawler said an economic downturn is a possibility and that the auto maker was trying to assess the impact of inflation and rising gasoline prices on the broader economy. On Wednesday, the Federal Reserve approved a 0.75 percentage-point-rate increase, the largest since 1994.

Source: Wall Street Journal June 15, 2022 23:05 UTC