“The Federal Reserve will wait until 2023 before raising interest rates“according to economists in the Reuters poll conducted October 12-18. The survey results also mention” a persistently higher inflation over the next year”As a major risk to the US economy.
Featured Comments:
Forty of the 67 economists said the federal funds rate would increase from its current level of 0-0.25% in 2023 or later, with the majority clustering around the first quarter of that year. The remaining 27 economists expect a rate hike by the end of next year.
Twenty-nine of the 37 economists respondents said that the risk by the time of the first interest rate hike of the Fed was that could occur earlier than expected.
Twenty-two of 40 economists who responded to an additional question said the biggest concern for the US economy over the next year will be persistently higher inflation, with 30% of them saying there will be a slower growth in growth than expected.
On average, the economy is expected to grow 4.0% next year, 2.5% in 2023 and 2.2% in 2024. That’s compared to previous forecasts of 4.2% for 2022 and 2.3% for 2023. The September survey did not ask for forecasts for 2024.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
