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CNBC Fed Survey shows 61% see recession coming
  + stars: | 2022-12-12 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC Fed Survey shows 61% see recession comingCNBC's Steve Liesman reports on results from the CNBC Federal Reserve survey.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC Fed Survey: Two-thirds of economists expect a 'moderate' recession in 2023CNBC's Steve Liesman breaks down the results from the CNBC Fed Survey and forecasts for recession chances and the direction of interest rate hikes.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWall Street expects Fed to hike interest rates by 75 basis points: CNBC Fed SurveyCNBC's Steve Liesman joins 'Squawk Box' with the latest results from the latest CNBC Fed Survey.
That is, the Fed will hike and hold, not hike and cut as many in the markets had been forecasting. The September CNBC Fed Survey shows the average respondent believes the Fed will hike 0.75 percentage point, or 75 basis points, at Wednesday's meeting, bringing the federal funds rate to 3.1%. The new peak rate forecast represents a nearly 40 basis-point increase from the July survey. Ryding sees a potential need for the Fed to hike as high as 5%, from the current range of 2.25%-2.5%. Respondents put the recession probability in the U.S. over the next 12 months at 52%, little changed from the July survey.
But Wells Fargo Securities' Michael Schumacher suggests the Federal Reserve is raising rates too slowly, telling CNBC's "Fast Money" he would seriously consider a 150 basis point hike this week if he were Chair Jerome Powell. But of course, the Fed won't do that." The key is policymakers need to convince investors the historical jump in rates is frontloaded, according to Schumacher. "It would do a huge move and then stop or stop pretty soon. Based on this month's CNBC Fed Survey, the Street believes the Fed will lift rates by 75 basis points on Wednesday.
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