Thursday, January 10, 2008

A New Survey of Economists

The WSJ reports on its survey of business economists:
The latest Wall Street Journal survey of economic forecasters sees rising odds of a U.S. recession this year along with mounting inflationary pressures, an uncomfortable mix that could influence the focus of the presidential campaign and complicate life for the Federal Reserve. The economists now put the odds of recession at 42%....

When asked whom they expect to win the presidency in 2008, 63% of the economists in the survey picked a Democrat.... However, when asked their personal preference, the economists favored Republicans. Sen. McCain led the field with 39% of the vote, compared to 11% for Mr. Giuliani and 7% for former Massachusetts Gov. Mitt Romney. Sen. Obama edged Sen. Clinton among Democrats, 14% to 11%, while former North Carolina Sen. John Edwards took 4%.