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."

 

About the author

Julia Coronado is chief economist at BNP Paribas.

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