While economists tend to agree monetary policy is "about right," they disagree on fiscal policy, according to a survey by the National Association of Business Economists.
Respondents said quantitative easing was "a success," few see asset purchases ending before the fourth quarter, while most expect an interest rate hike next year.
"There is much less consensus among panelists regarding fiscal policy," said NABE Policy Survey Committee Chair Jay Bryson, Global Economist at Wells Fargo Securities. "About 40% of survey respondents deem fiscal policy as 'too restrictive' at present, a similar percentage consider it 'about right,' while more than 20% indicate it is 'too stimulative.' In addition, there is neither clear consensus regarding the primary cause of the current fiscal deficit, nor the best way to close the deficit."
