US DATA: Philly Fed Q2 Pro Forecasters Survey finds growth outlook
little changed – forecasters expect real GDP to grow +2.4% in Q2 vs
+2.3% in prior est. Special Q: “we asked the panelists whether their
long-run forecasts for inflation in the price index for personal
consumption expenditures (PCE) are consistent with the FOMC’s longer run
goal of 2 percent. Nearly three-quarters of the 31 panelists who
answered the question indicated that their long forecasts for PCE
inflation do not differ in an economically meaningful way from the
FOMC’s goal. Notably, eight of 31 panelists said they do not believe the
FOMC will achieve its goal. These panelists, on average, think inflation
in the long run will exceed 2%.” More on the MNI Main wire.