Most economists expect the U.S. to emerge from the current economic recession later this year or early in 2021, according to a National Association for Business Economics survey. Approximately 80% of respondents, however, say a second dip after the economy recovers from the first recession is conceivable.
The 235 NABE members who participated in the semiannual survey also said they approved of the Federal Reserve’s stimulus efforts. Nearly 60% expect the federal funds rate range to remain unchanged at 0% to 0.25%, or even go lower, by the end of 2021.
Respondents, however, were split on whether Congress has adequately responded to the recession. Most agreed that Congress should continue supporting small businesses and extend additional unemployment insurance while the COVID-19 pandemic continues.
