Majority of Economist Now Looking For QE3September 12, 2012 @ 10:43 AM EST
Majority of Economists Expecting QE3 Thursday
Bloomberg is reporting that nearly two-thirds of economists expect QE3 announcement on Thursday.
In a Wednesday report, Bloomberg wrote that nearly two-thirds of economists in its survey expect the Fed to announce another round of bond purchases on Thursday. In addition, those surveyed are looking for an extension of the Fed’s forward guidance.
In a separate survey, CNBC reported Wednesday that 77% of the economists they surveyed expect the FOMC to launch QE3. And the vast majority of those, expect the Fed to initiate the program in September.
The Bloomberg report noted that 32 of the 73 economists surveyed expect any new bond buying program to be open-ended, while 22 expect a fixed duration and amount.
The CNBC poll showed the average expectation for the program was $510 billion.
Note that both surveys showed that those expecting the Fed to launch QE have increased since last week’s Employment Report.
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