On May 22, a survey released by the National Association of Business Economics (NABE) on Monday showed that economists now believe that the Federal Reserve will lower its target policy rate in the first quarter of next year.
In the previous survey, conducted in February, respondents expected the Fed to cut rates in the fourth quarter of this year. Economists surveyed raised their inflation forecasts for 2023 to 3.3%, up from 3% in the last poll.