WASHINGTON – Business forecasters are maintaining their rosy view of the U.S. economy in 2014, predicting 3 percent growth by the second quarter of next year, low inflation and improving employment.
The top economists surveyed by the National Association of Business Economics between Aug. 8 and Aug. 20 also say there's an 80 percent likelihood that the pickup in growth will prompt the Federal Reserve to trim its monthly $85 billion purchases of mortgage bonds and Treasury bills next year.
The NABE's 43 respondents said in a report released Monday that there's a 45 percent chance the Fed will begin its so-called "tapering" as early as this year.
But economists have trimmed their expectations for the second half of 2013 since the last survey, in May.
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