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Business Economists Call For Higher Rates & Deficit Watch

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By Douglas A. McIntyre Updated Published
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The National Association for Business Economics, or the NABE, has continued on its call for a muted recovery.  But there are some key issues it has brought up.  The NABE sees a rate hike sooner than what Fed governors are telegraphing and much sooner than what many key market pundits are calling for.  But there is another issue to consider as well, and that is that the NABE is calling out against the huge deficits.

The group noted, “… a majority believes that a rise in interest rates is both likely and appropriate in the next several months.”  Eight out of ten respondents in the survey did not believe another stimulus package is warranted at this time.

On fiscal concerns, eight out of ten suggested that the long-term imbalance of the federal budget might impact the country’s ability to borrow.

The full report is here at the NABE.com site.

We had moved our target from late Q1-2010 to summer-2010 for any rate hikes.  That may be summer or may be fall, but the obvious answer is that rates can’t be taken any lower.

JON C. OGG

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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