Spurred by the Federal Reserve's aggressive interest rate hikes to slow soaring inflation, signs point to a deteriorating economic picture, with many forecasting a recession on the horizon. Furthermore, the management team, led by Chief Executive Officer Dan Schulman, no longer thinks PayPal can amass 1 billion active accounts, a lofty goal he established during the depths of the pandemic. According to Deutsche Bank analyst Bryan Keane, PayPal's global adoption as a checkout option in the month of November fell 8% versus a year ago.