Survey: Economists don't want rates raised
WASHINGTON -- July 17, 2006 -- A recent USA Today poll of 54 leading economists found that a majority -- 66 percent -- believe Federal Reserve policymakers will hike interest rates when they meet next on Aug. 8.
However, 61 percent of those surveyed do not believe an additional increase is shrewd, noting that they would not raise rates if they were the ones who had a say in the matter.
More than 50 percent of respondents added that the greater risk is if the central bank raises rates too high instead of keeping them too low.
National City chief economist Richard DeKaser, for one, insists that the Fed's interest-rate policy needs time to take full effect, adding, "We've got enough restraint coming from the Fed already to provide sufficient slowing in our economy to prevent inflationary pressures from getting out of hand."
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