Stuart Hoffman, senior vice president and chief economist for The PNC Financial Services Group and Chair of SIFMA’s Economic Advisory Roundtable, discusses the Roundtable’s U.S. Mid-Year 2016 Economic Outlook. Survey results showed GDP outlook has decreased to a 1.8% increase from an expected 2.5% increase earlier this year. Respondents anticipated either one or two FOMC rate hikes for the rest of 2016 and expectations ranged from two to four rate hikes in 2017. In addition, survey results placed a 20% chance of WTI crude oil prices dropping below $40 by the end of 2016, a 40% of prices between $41 and $50, and 20% chances of both prices from $51 to $60 and above $60. The mid-year survey concluded on June 6, 2016.

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