Economics

NABE Economists Support Fed, Believe Recession Likely

By Chemical Processing Staff

Aug 20, 2019

While most economists expect a recession, they’re split on whether the downturn will occur in 2020 or 2021, according to the August 2019 National Association for Business Economics (NABE) Economic Policy Survey. This is later than predicted in the February policy survey due to the shift in monetary policy. The NABE survey summarizes the responses of 226 members of the organization.

The survey (which was conducted prior to the Federal Reserve’s rate cut on July 31) also reveals that the number of respondents who deem current fiscal policy “too stimulative” (51%) has decreased marginally from February (55%) and sharply from one year ago (71%). According to NABE, the majority of economists polled also express nearly unanimous support for Federal Reserve independence.

Read the entire report here: www.nabe.com