SIFMA Economic Advisory Roundtable Mid-Year 2022 Survey - Expect A 50-Bp Bump In June, Fed To Lift Federal Funds Rate By 200 Bps Or Less And Unwind Balance Sheet To $7 Trillion - 93% Agree The Fed Waited Too Long On Raising Rates, Leading To Increased Inflation Today, SIFMA unveiled the results of its Economic Advisory Roundtable semiannual survey of the chief U.S. economists of 27 global and regional financial institutions. “We are seeing clear signs of improvement, reaching that light at the end of what has been a very long and very painful tunnel. At the same time, many of last year’s risks still remain, complicating the outlook for the domestic recovery: policy risks, inflation risks, supply distortions, an ongoing labor supply shortage, and more recently international conflict and more aggressive monetary policy, just to name a few,” said Dr. Lindsey Piegza, Ph.D., chief economist and managing director at Stifel Financial Corporation and chair of SIFMA’s Economic Advisory Roundtable. “While we have seemingly made it past one crisis, another lurks around the corner as the Fed raises rates, potentially enough to stall consumers and businesses, and choke off domestic economic growth entirely.” We highlight the following findings from the survey (populated between May 9 -23): Economic Forecasts Regarding inflation, the Consumer Price Index (CPI) is expected at 6.3% for 2022.