WASHINGTON (AP) — With the pace of U.S. economic growth seen speeding up later this year and next, many business economists expect the Federal Reserve to end its bond purchases this fall.
The consensus of the economists surveyed by the National Association for Business Economics is that bad weather cut first-quarter growth to a weak annual rate of 1.9 percent. But they think growth could exceed 3 percent by year's end, bringing the annual rate to 2.8 percent.
Given the stronger growth forecast, 57 percent of the economists surveyed believe the Federal Reserve will end its bond purchases in the fourth quarter, as the central bank has signaled it plans to do. Some think it could happen even sooner.
NABE surveyed its 48 forecasters between Feb. 19 and March 5 for the report, released Monday.