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NABE Policy Survey Release August 2006.doc

Source: www.nabe.com
Topic: Economic Policy

Sort Desciption: The NABE Economic Policy Survey presents the consensus of a panel of 195 members of the National Association for. Business Economics. Conducted semiannually ...

Content Inside: Published by the National Association for Business Economics 1233 20 th Street NW Suite 505 Washington DC 20036. www.nabe.com nabe@nabe.com 202-463-6223 202-463-6239 (fax) FOR FURTHER INFORMATION CONTACT: EMBARGOED UNTIL: Stuart Hoffman 412-762-3101 August 28 2006 Melissa Golding 571-236-2820 12:01 AM Eastern NABE Panel: $100 per Barrel Oil Would Cause Recession August 2006 The NABE Economic Policy Survey presents the consensus of a panel of 195 members of the National Association for Business Economics. Conducted semiannually this survey was taken August 1 August 15 2006. May be reprinted in whole or in part with credit given to NABE. View the survey results including complete tabulations online at www.nabe.com. This is one of three surveys conducted by NABE. The other two are the NABE Outlook and the NABE Industry Survey. David Wyss of Standard & Poors Kathleen Camilli of Camilli Economics and Catherine L. Mann of the Institute for International Economics conducted the analysis for this report. NABE members believe that oil prices above $100 per barrel would probably cause a recession but dont believe they will go that high says Stuart Hoffman NABE President and Chief Economist PNC Financial Services Group. They see little prospect of significant substitution of other technologies for oil in the next decade. Survey Highlights Terrorism continues to be the biggest short-term problem facing the U.S. economy according to 34% of respondents up from 26% in March. Energy was the biggest fear of 29% of respondents up from 23%. Worries about inflation moved into third place ahead of the trade deficit. In the longer run the federal deficit and an inadequate educational system are the primary problems each chosen by over one-fifth of respondents. The largest strength continues to be the flexibility of the economy with technology close behind. Monetary policy is about right. Although 71% of respondents said current monetary policy is about righ ...

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