The CNBC Fed Survey indicates the Fed will announce a decision to taper Wednesday and begin hiking interest rates sooner than previously forecast.
to September 2022 from December in the last survey.
While 64% continue to say the recent increase in inflation is temporary, many still continue to sound the alarm bells. In fact, 40% want the Fed to address the problem with rate increases now. Just 26% say inflation has peaked, with expectations that the rate of price increases will continue to rise thru January.
Nearly two-thirds believe the Fed should offset new spending by quickening the pace of its taper, and 40% prefer faster rate hikes in response compared with 56% who opposed such measures.
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