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President Trump delivers opening remarks at the beginning of a policy forum with CEOs. Photo: Chip Somodevilla/Getty Images

Confidence among the nation's top CEOs saw the biggest quarter-over-quarter drop in 7 years and hit a level not seen since the 4th quarter of 2016, according to a closely-watched survey by the Business Roundtable.

Why it matters: Corporate America's level of optimism has dramatically receded from the levels when President Trump took office. Amid heightened trade war uncertainty, CEOs have downgraded expectations for hiring, capital spending and sales growth — potentially exacerbating fears that the record economic expansion could be coming to an end.

“American businesses now have their foot poised above the brake, and they're tapping the brake periodically.”
— Joshua Bolten, president and CEO of Business Roundtable, in statement

Details: The BRT's economic outlook index has declined for 6 consecutive quarters.

  • At 79.2, this quarter's reading came in above the 50-point level that would indicate the onset of a recession, but the reading "suggests some moderation in the pace of economic growth going forward," the lobbying group noted in the release.
  • 20% of CEOs surveyed expect their company's sales to decrease in the next 6 months — a notable jump from the 9% that said the same last quarter.

Go deeper:

Go deeper

Airlines, unions want DOJ to prosecute unruly passengers

Photo: Nicolas Economou/NurPhoto via Getty Images

A coalition of airline industry partners asked the Justice Department on Monday to begin prosecuting disruptive passengers.

Why it matters: Increased political divisions and conflict over pandemic guidelines have led the Federal Aviation Administration to take some form of enforcement action over 400 times in the first five months of 2021, compared to 146 in all of 2019, according to the coalition.

California to pay off unpaid rent accrued during COVID-19 pandemic

California Gov. Gavin Newsom. Photo: Jay L. Clendenin / Los Angeles Times via Getty Images

California will pay off the accumulated unpaid rent that has piled up during the COVID-19 pandemic, the AP reports.

Why it matters: The move would fulfill a promise to landlords to help them to break even, while giving renters relief, the AP writes.