Business & Finance
Economists seek clarity on Fed chairman's strategy ahead of Jackson Hole speech, CNBC survey shows
A survey of 31 economists shows a majority want Federal Reserve Chairman Warsh to share his view of the economy, while most doubt recent Treasury intervention will lower bond yields.
The short version
- Eighty percent of 31 economists surveyed by CNBC want Federal Reserve Chairman Warsh to detail his economic outlook during his upcoming Jackson Hole speech.
- Respondents are divided on monetary policy, with 53% expecting interest rate hikes over the next year while 30% expect rate cuts.
- Seventy-seven percent of surveyed economists believe recent Treasury Department purchases of long-dated securities will fail to lower bond yields.
Key facts
- Eighty percent of 31 respondents in a CNBC Fed Survey want Fed Chairman Warsh to share more insight into his economic views during his upcoming Jackson Hole keynote address.[CNBC]
- Survey respondents are evenly split at 48% on whether Chairman Warsh should provide specific guidance regarding the interest rate outlook.[CNBC]
- Seventy-seven percent of respondents expect Treasury Secretary Scott Bessent's efforts to lower bond yields through increased off-the-run debt purchases will be unsuccessful.[CNBC]
- Over the next year, 53% of surveyed economists forecast interest rate hikes, 30% anticipate rate cuts, and 16% project no change in rates.[CNBC]
- Economists in the survey expect 10-year Treasury yields to stay between 4.60% and 4.70% through the end of next year.[CNBC]