National Association for Business Economics releases February outlook.
The February 2022 NABE Outlook Survey from the National Association for Business Economics cites high inflation as a key risk to the economy over the next three years. The survey is the consensus macroeconomic forecast of a panel of 57 professional forecasters.
“NABE Outlook Survey panelists' projections for inflation in 2022 are significantly higher than those in the December 2021 survey,” says NABE President David Altig, executive vice president and director of research, Federal Reserve Bank of Atlanta. “They see a risk that inflation will remain higher than previously expected over the next three years, coming largely from the labor market. More than two-thirds of survey respondents cite rising wages as a risk factor.”
Survey Chair Yelena Shulyatyeva, senior U.S. economist, Bloomberg, adds, “Nearly two-thirds of the panelists indicate risks to U.S. economic growth are tilted to the downside this year. Thirty percent identify monetary policy missteps as the greatest downside risk. Seventy-seven percent of panelists suggest a wage price spiral is either already occurring or will be a major risk in 2022.”
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