{"id":1618801,"date":"2022-08-22T10:57:23","date_gmt":"2022-08-22T14:57:23","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1618801"},"modified":"2022-08-22T10:57:29","modified_gmt":"2022-08-22T14:57:29","slug":"economists-inflation-cant-be-reined-in-without-tanking-the-economy","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/economists-inflation-cant-be-reined-in-without-tanking-the-economy\/","title":{"rendered":"Economists: Inflation Can\u2019t Be Reined In Without Tanking The Economy"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Feconomists-inflation-cant-be-reined-in-without-tanking-the-economy%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1618801&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/jerome-powell-inflation-PCE-scaled-e1648733570736.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>Nearly three quarters of business economists believe that the Federal Reserve will not be able to bring inflation back to its target of 2% in the next two years without inducing a recession, according to a poll by the National Association for Business Economics (NABE) released Monday.<\/p>\n<p>Roughly 19% of respondents believed that the U.S. was already in a recession, with 53% believing that one will begin by the end of the first half of 2022, according to the <a href=\"https:\/\/files.constantcontact.com\/668faa28001\/9ce65b62-78b6-4746-9c4d-74c10dd679b6.pdf?rdr=true\" target=\"_blank\" rel=\"noopener noreferrer\">poll<\/a>. This data comes after four consecutive interest rate hikes from the Federal Reserve as inflation remains high at 8.5% in July and U.S. GDP shrunk for two consecutive quarters. <strong><a href=\"https:\/\/dailycaller.com\/2022\/08\/20\/twitter-cfo-warns-employees-annual-bonuses-cut-in-half\/\">(RELATED: Twitter CFO Warns Employees That Annual Bonuses Could Be Cut In Half)<\/a><\/strong><\/p>\n<p>Only 3% of economists are \u201cvery confident\u201d that the Federal Reserve will corral inflation without triggering a recession, typically referred to as a \u201csoft landing,\u201d with 10% \u201cconfident\u201d and 14% \u201csomewhat confident,\u201d according to the poll.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">JPMorgan CEO Jamie Dimon says \u201csomething worse\u201d than a recession could be coming.<\/p>\n<p>\u2014 Watcher.Guru (@WatcherGuru) <a href=\"https:\/\/twitter.com\/WatcherGuru\/status\/1561348523093893120?ref_src=twsrc%5Etfw\">August 21, 2022<\/a> <\/p>\n<\/blockquote>\n<p>Economists remained consistent in their opinions on fiscal policy over the past year, <a href=\"https:\/\/www.federalreserve.gov\/faqs\/money_12855.htm#:~:text=Monetary%20policy%20refers%20to%20the,policies%20of%20the%20federal%20government.\" target=\"_blank\" rel=\"noopener noreferrer\">defined<\/a> by the Federal Reserve as the way the government sets tax and spending policies, with 51% finding that current policy is \u201ctoo stimulative\u201d and 44% saying it is \u201cabout right,\u201d according to the poll. Long-term interests became more prominent in 2022, with 59% of respondents arguing that the government should focus on medium-to-long term growth, up from 48% in March.<\/p>\n<p>Opinions on monetary policy, or the ability of the central bank to achieve goals such as employment, growth and price stability, saw significant changes as the Fed raised interest rates for the fourth time in a row, according to the poll. Only 44% believed that current monetary policy is \u201ctoo stimulative,\u201d down from record-highs of 77% in March, with 46% saying monetary policy is \u201cabout right,\u201d up from 22% in March.<\/p>\n<p>The amount who believe monetary policy is \u201ctoo stimulative\u201d is much higher than is typical, while the number who believe monetary policy is \u201cabout right\u201d is much lower than is typically, according to poll results dating as far back as May 1995. Just 9% of economists believed that current monetary policy is \u201ctoo restrictive,\u201d which is more typical, according to the poll.<\/p>\n<p>The report comes a week after JPMorgan Chase Chief Executive Officer Jamie Dimon told investors on an investor call that he estimated there was only a 10% chance that the Fed was able to implement a slowdown without causing a recession, Fortune <a href=\"https:\/\/fortune.com\/2022\/08\/16\/jp-morgan-chase-jaime-dimon-warns-something-worse-than-recession-could-be-coming\/amp\/\" target=\"_blank\" rel=\"noopener noreferrer\">reported<\/a>. Dimon believes that the Fed\u2019s goal of bringing inflation down to 4% from 8% by the end of the year is \u201chighly unlikely,\u201d Yahoo! Finance <a href=\"https:\/\/finance.yahoo.com\/news\/jamie-dimon-sounds-off-morning-brief-110044236.html#:~:text=It%20is%20a,single%20point%20forecast.%27\" target=\"_blank\" rel=\"noopener noreferrer\">reported<\/a> last week.<\/p>\n<p>The Inflation Reduction Act will have practically no impact on inflation, <a href=\"https:\/\/budgetmodel.wharton.upenn.edu\/issues\/2022\/7\/29\/inflation-reduction-act-preliminary-estimates\" target=\"_blank\" rel=\"noopener noreferrer\">according<\/a> to the University of Pennsylvania Penn Wharton Budget Model.<\/p>\n<p>Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact <a href=\"mailto:licensing@dailycallernewsfoundation.org\">licensing@dailycallernewsfoundation.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nearly three quarters of business economists believe that the Federal Reserve will not be able to bring inflation back to its target of 2% in the next two years without<\/p>\n","protected":false},"author":1181,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1618801","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1618801","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1181"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1618801"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1618801\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1618801"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1618801"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1618801"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}