More than two-thirds of economists, 69%, are somewhat confident to very confident that the Fed will be able to achieve a “soft landing” for the US economy in the fight against inflation, according to the August 2023 Economic Policy Survey report released by the National Association for Business Economics. A soft landing occurs when economic growth slows but not by enough to trigger a recession. 

NABE’s survey found that 45% were somewhat confident the Fed will achieve a soft landing, while 20% were confident. Four percent were very confident. 

“More than two-thirds of NABE Policy Survey panelists are at least somewhat confident that the Federal Reserve will achieve a ‘soft landing’ for the economy, even with the increases in the federal funds target interest rates over the past year,” NABE President Julia Coronado, president and founder, said in a press release. “However, 20% of panelists believe that the US economy is currently in a recession or will enter a recession in 2023.” 

However, most panelists do not expect inflation to subside until at least next year. 

The report is based on survey responses from 167 members of NABE and took place between July 28 and Aug. 7. NABE is an association for business economists and others who use economics in the workplace.