Hopes for a soft landing in the US rise

survey conducted by the National Association for Business Economics (NABE) in the US indicated that confidence is growing that the Fed can deliver a soft landing for the economy. Nearly 70 percent of economists surveyed said they were at least somewhat optimistic that the Fed could reduce inflation to its 2 percent target without causing a recession. This picture represents a significant shift in views from the agency’s survey published in March. Nearly three in four respondents said that current monetary policy is correct, an increase of nearly 60 percent from the March survey. Almost three-quarters of respondents think that inflation will be above 3 percent by the end of the year. Fifty-six percent of respondents said that changes in monetary policy will take between a year and 18 months to affect the economy.