Respondents, including economists, strategists, and analysts, believe the Fed is now on hold into September of next year.
Respondents to the CNBC Fed Survey expect no additional rate hikes from the Federal Reserve and have fully embraced its "higher-for-longer" mantra.The survey also showed a 49% expectation of a recession in the next 12 months and a 42% chance of a soft-landing.
The change can also be seen in the outlook for the fed funds rate, the central bank's benchmark for short-term lending costs. Respondents on average see a 49% probability of a recession in the next 12 months and a 42% probability of a soft-landing. While they have driven up their 2023 GDP forecast from under 1% in June to 2.4% now, they have slashed the outlook for growth roughly in half for 2024 to 0.73%.
Some 60% of respondents see Fed hitting its inflation target in 2025 or sometime after that and 19% don't believe the Fed will ever get there. The unemployment rate is forecast to ratchet up from the current level of 3.8% to 4.5% next year.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Markets are on board with the Fed's ‘higher for longer' policy, CNBC survey showsRespondents, including economists, strategists, and analysts, believe the Fed is now on hold into September of next year.
Read more »
CNBC Daily Open: Markets' bounce may be short-livedAfter a rough week amid accelerating inflation and disappointing earnings, stocks bounced to start the week. But the recovery may not last.
Read more »
CNBC Daily Open: Markets’ bounce may be short-livedAfter a rough week amid accelerating inflation and disappointing earnings, stocks bounced to start the week. But the recovery may not last.
Read more »
Japan’s Nikkei leads losses in Asian markets ahead of the Fed, BoJ rate decisionMost Asian stocks trade mixed on Monday. Investors await the highly-anticipated Bank of Japan (BoJ) monetary policy meeting on Tuesday and the Federal
Read more »
Crude Oil Steadies as Markets Assess Middle East Risks Ahead of the FedThe crude oil price is struggling for direction as the uncertainty for energy supply going forward weighs on sentiment. US Dollar gyrations are also dominating markets as the Fed decision looms.
Read more »
Asian stocks dip on weak China PMIs; BOJ, Fed loom over marketsAsian stocks dip on weak China PMIs; BOJ, Fed loom over markets
Read more »