Economists surveyed by The Wall Street Journal this month expect that a Federal Reserve led by Jerome Powell would mean little change in monetary policy and a less aggressive approach to financial regulation.
Most survey respondents expect the Fed to raise short-term interest rates next month and lift them three times next year and twice in 2019, in quarter-percentage-point moves. That would match the projections penciled in by Fed officials in September. They will update those forecasts at their next scheduled meeting, Dec. 12-13.
President Donald Trump last week nominated Powell, a Fed governor, to serve as the next central bank chairman after Janet Yellen’s term as chief expires in February.
Overall, economists expressed few qualms about Powell at the helm, with almost 96% saying he is qualified to lead the Fed. Powell, a lawyer, has worked at an investment bank, at the U.S. Treasury Department, as a partner in a private-equity firm and as a Fed governor since 2012.
The Wall Street Journal surveyed 59 economists Nov. 3-7. Not every economist answered every question. Read the full story (subscription may be required).
