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Survey: Economists happy with Fed action

Traders work on the floor of the New York Stock Exchange on September 18, 2012 in New York City.

The main economic data we've got this morning is actually about economists.

The National Association for Business Economics has put out its new policy survey, and there are some interesting tidbits in there: most economists, for example, are happy with current Federal Reserve policy. And they'd rather the government focus on stimulus for the time being, and save the real deficit cutting for a year or two down the road.

The survey found that most economists favor a balanced approach to the deficit -- a mix of tax hikes and spending cuts.

"That's not a surprise to me, being an economist," says Julia Coronado, chief economist for BNP Paribas. "If you look at the numbers -- you look at taxes relative to economy or spending relative to the economy -- both of them are very much out of balance with historical norms."

 

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Julia Coronado is chief economist at BNP Paribas.
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I just read the 'most economist' article that stated most don't support the Fed's policy.

Since the public has given all it needs in spending cuts, we need economists who think retrieving trillions of dollars in fraud across all business sectors would be the answer to spending cuts.

Well, given that no one has confidence in economists as we know Greenspan and Bernanke as a deputy created this mess and that both are Laissez-Faire which is now out of style, and given that having someone heading the Fed who was apart of driving the economy into the ground in order to attain maximum market value for Wall Street with complete disregard to Rule of Law, I would suggest that Public Media, who, by their charter must work in the interest of the public, go another route for it's policy directions.

The public can see where this policy leads......financial reporters in major journals see where this leads......government accountability groups see where this leads.

This policy deliberately places the US economy on hold as it hands money for free to banks and corporations to build their profits and grow overseas. The Fed knows it is creating the very environment that stagnates.....corporations making money on stock market rather than by working. The Fed knows this policy forces people into the riskier markets as they have no where safe to put their money. It has everything to do with what is good for the market and nothing to do with what is good for the people.

Rather than creating the environment where Americans can earn money at levels to allow them to become consumers again and drive the economic recovery....the Feds policy of long-term stagnation simply allows these corporations to drive labor further into poverty and sheds all benefits.....which is a corporate plus and a people minus. There is no way of looking at this that doesn't present this picture!

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