Playing The Economic Boom While It Lasts
The Chief Executive article, “Playing The Economic Boom While It Lasts," quoted Russell Reynolds Associates CEO Clarke Murphy about the nervousness around the current economic boom. The article is excerpted below.
Everything has fallen into place in the Trump Boom. Now CEOs need to figure out how to exploit today’s prosperity for the long term as well. And they’d better be ready for the good times to end, as they inevitably will.
For now, all systems are go.
Tax cuts and regulation rollbacks—check. Cheap domestic energy—check. Accelerating job creation, including re-engagement of marginal workers—check. Rising incomes—check. Robust consumer confidence—check. Cascading business investment—check. Synchronous improvement in economies around the globe to create demand for U.S. exports—check. Unleashing of pent-up optimism—check. CEOs’ willingness to call a boom a “boom”—check.
Believe in It
With so long between true boom times, some younger CEOs could make rookie mistakes by misperceiving the zeitgeist.
“There’s a level of nervousness about this that you didn’t see in 1999 or 2006 and 2007,” says Clarke Murphy, CEO of Russell Reynolds Associates, an advisory and executive search firm.
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