According to a survey conducted by the National Association of Business Economists, most economists believe that the Federal Reserve is “on the right track” with its programs to repair the US economy.
The NABE survey, which was released on Monday, also showed that a majority of economists believe that there is only a small risk of inflation in the near future.
The semiannual questionnaire polled 257 economists from July 22 to August 4 and found that 53 percent of them say that the Fed’s stimulus programs are on target, while 39 percent thought the Fed was interfering too much with the economy.
The Federal Reserve has been slowing down on its bond-buying economic stimulus program since the end of last year. Also on the horizon, according to economists, is the increase of interest rates in the coming year. Interest rates have not gone up since the economic crisis of 2008. The survey showed that about 75 percent of those asked expect that the Fed’s first interest rate increase will come in 2015.
The survey also showed that 42 percent of the NABE economists agree with US fiscal policy, saying it is “about right.” Others, about 34 percent, believe the policy is “too restrictive.” One year ago the survey showed that only 31 percent thought the US fiscal policy was “about right.”