Why one CEO is swearing off making economic forecasts [Fortune]
HSBC Holdings, plc. (HSBC)
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Source: Fortune
EU has turned a corner and can contribute to a rise in global demand. But when I asked Accenture's CEO for EMEA Jean-Marc Ollagnier to talk about the implications of this news, he was surprisingly cautious. “The macro environment is difficult to read. It's a huge exercise in humility,” Ollagnier told me by phone from Paris. He didn't engage in macro-economic forecasts, either. “I'm not that sure that I can tell what will happen next,” he said. “We've learned that what happens in the world can surprise us a lot.” Ollagnier says he stays away from making predictions—unlike business leaders of the past—because there are no macro-economic forecasting models that can “grasp” the kind of events we've lived through since COVID. “Wage inflation, geopolitics, energy price fluctuation, a couple of wars…I'm not sure any model that we are living with can deal with that,” he said. “We have to accept some level of uncertainty.” Ollagnier told me that many other CEOs have embraced this “carefu
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