GM, Ford CFOs Say They Are Preparing for Economic Slowdown

This post first appeared on Business on . You can read the original article here.

The chief financial officers for two of the U.S.’s largest car companies—General Motors and Ford Motor Co.—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.