Tax cuts and rate hikes are on the way, starting Wednesday, CNBC’s survey of Fed watchers finds

Author: , Post Date: December 12, 2017

Excerpt below:

The new Federal Reserve boss will be the same as the old boss when it comes to monetary policy and President Donald Trump‘s tax cuts will pass and add half a point to growth.

Those are among the findings of this month’s CNBC Fed Survey, coming at a time of dramatic transition at the Federal Reserve and in fiscal policy in Washington.

“Huge regime change in tax, monetary, trade is underway; that makes forecasting very prone to large error terms,” wrote David Kotok, chairman and chief investment officer at Cumberland Advisors, in response to the survey. 

The 44 respondents, including money managers, strategists and economists are nearly unanimous in believing the Fed will hike interest rates at the end of its two-day meeting this Wednesday and 100 percent say the next move after Wednesday will be to raise rates. Two-thirds say that next hike will happen in March.

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