GM, Ford CFOs Say They Are Preparing for Economic Slowdown

The chief monetary officers for two of the U.S.’s largest automobile corporations—General Motors and Ford Motor Co.—say client demand stays sturdy, however they’re watching for indicators of a U.S. recession.

At a Deutsche Bank convention Wednesday, Ford CFO John Lawler mentioned an financial downturn is a chance and that the auto maker was making an attempt to evaluate the impression of inflation and rising gasoline costs on the broader financial system. On Wednesday, the Federal Reserve approved a 0.75-percentage-point rate increase, the biggest since 1994.