US economists see interest rise for savings account holders
International savings account holders in the US are likely to see interest rates rise in the country in the coming months, according to new figures.
The results of a survey by the National Association for Business Economics (NABE) show that two-thirds of people believe that the Federal Reserve’s fiscal policy is "appropriate at the moment".
Almost two-thirds believe that the target for the Federal Funds rate, which is the Federal Reserve’s main interest rate, will increase by 25 or 50 basis points in the next six months.
In addition, almost all of the 203 NABE members polled believed that mortgage rates would rise in the coming months. The majority also thought that the current level of stimulus in place in the US was appropriate.
The news comes as unemployment figures released by the Bureau of Labor Statistics show little change in the level of joblessness in January, which remained stable at 9.7 per cent.
Only a slight change was seen in the number of long-term jobless citizens, which has stayed at around 6.1 million since December.
Posted by Chris Moore.