Federal Reserve Jerome Powell testifies during a Senate Banking Committee hearing on “The Quarterly CARES Act Report to Congress” on Capitol Hill in Washington, U.S., December 1, 2020.
Susan Walsh | Reuters
The Federal Reserve will remain on hold for the rest of this year despite an increasing belief on Wall Street that policymakers should throttle back the stimulus they’re providing to the U.S. economy, according to the latest CNBC Fed Survey.
Respondents to the survey forecast the Fed won’t reduce its $120 billion of asset purchases until January, three months later than predicted in CNBC’s March survey. And the first rate hike won’t come until December 2022, survey respondents said.