CNBC Survey: Wall Street Worries about Economy

Wall Street's concerns about Washington are escalating, with the December CNBC Fed Survey finding growing investor angst about a recession, the fiscal cliff and the Fed's monetary policy.

The 48 economists, fund managers and strategists who responded to the survey rank the "fiscal cliff" as the top threat facing the U.S. economy and, partly as a result, put the chance of recession in the next year at a 13-month high of nearly 29 percent.

"The fiscal cliff conversation has edged its way to the 'head of the class' when considering the possibility of a new recession," says Kevin Giddis, Raymond James/Morgan Keegan.

Pimco's Tony Crescenzi sees an even bigger problem looming. "The medium to long-term budget problems of the United States are far more important to the ultimate destination of markets than is the 'fiscal cliff.'"

via CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Get OANDA's exclusive weekly Market Pulse FX

HTML
  • HTML
  • Text
Stuart McPhee

Stuart McPhee

Senior Currency Technical Analyst at Market Pulse
Stuart McPhee has nearly 20 years’ experience as a private trader and he specializes in technical market analysis of major currency pairs. He is the author of several bestselling trading books, most recently the fourth edition of his popular book “Trading in a Nutshell” (John Wiley), and he contributes articles to daily newsletters and blogs. He produces articles and videos on the how-tos of technical trading. Living in Melbourne, Australia, Stuart speaks at conferences and events worldwide.
Stuart McPhee