Q2 2023 Bank Executive Business Outlook Survey

Nearly three quarters of bank executives are doubtful the Fed can keep the U.S. economy from sliding into a recession while - at the same time - raising interest rates to counter inflation. Only 27% of survey participants think the Fed can achieve a “soft landing” if it raises the Federal Funds Rate two more times this year. (The survey was conducted before the Fed's July meeting and quarter-point rate hike.)

Bankers' skepticism comes at a time when many economists are increasingly optimistic about the prospects for the economy. Yet bankers' concerns were reflected in many of the survey results.

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