Action Economics Survey results
Action Economics Survey results: the markets have been through a lot over the last couple of months, beginning and ending (in large part) with comments from Fed Chairman Powell. Treasury yields are back where they were before his October 3 remarks, while equities are showing some stability. Meanwhile, erosion in many forward-looking indicators, tightening financial conditions, and the drop in oil prices are signaling some slowing in growth. That’s seen the market, and some Survey participants, reprice the FOMC’s policy trajectory. A 25 bp hike at the upcoming December meeting is still unanimously expected. But a few are now forecasting a steady stance in Q1. Key data is on tap next week, including the November jobs report where the Survey median shows a 200k increase in jobs.