NEW YORK -- The vast majority of business economists believe the Federal Reserve will begin to pull back on its massive economic stimulus program in the first three months of 2014, according to a November survey done by the National Association of Business Economists.
The survey also showed a majority of economists believe the United States' economic recovery will accelerate next year.
NABE surveyed 51 economists between Nov. 8 and Nov. 19 and found that 62 percent of respondents believe the Fed will pull back on its bond-buying program in the first quarter of 2014. Another 30 percent believe the Fed will begin to reduce its bond buying in the second quarter of 2014.
Combined, nine out of 10 economists believe the Fed's stimulus program will wind down next year, after being place in its current form since December 2012.
The Federal Reserve has been buying $85 billion in bonds each month in an effort to keep interest rates low and stimulate the economy.
The central bank was widely expected to taper its bond purchases in September, but decided to wait and see more evidence whether the nation's economic recovery is sustainable.
In its survey, NABE said its forecasters expect the U.S. economy will grow faster next year than in 2013. The organization forecasts that the country's economy will grow at a 2.8 percent annual rate in 2014 versus the 2.1 percent annual rate it is expected to grow this year.
The partial shutdown of the federal government in early October likely had a modest impact on economic growth, NABE said.
Suspect lets baby go, kills self: A man suspected of killing three women in an apartment complex shot himself to death in front of police officers after letting a 13-month-old child go free, authorities said Sunday. Police in the Hartford suburb of Manchester, Conn., responded to the Dye House Apartments at about 9:40 p.m. Saturday, minutes after getting 911 calls reporting gunshots. An armed man was leaving the apartment building carrying the child as officers arrived at the scene, according to a statement by Manchester police Capt. Christopher Davis. During a brief confrontation with officers, the man put down the child and fatally shot himself, Davis said. The child appeared to be unharmed but was taken to a hospital to be evaluated. Police on Sunday had not released the names of the man, three women or the officer who fired at the suspect.
Ex-mayor to be sentenced: Bob Filner has almost vanished from public view since a defiant resignation speech as San Diego mayor amid widespread allegations that he sexually harassed women. He returns to the spotlight at least once more. The former 10-term congressman will be sentenced today for one felony and two misdemeanors for placing a woman in a headlock, kissing another woman and grabbing the buttocks of a third. He pleaded guilty in October in an agreement with prosecutors, who will recommend that he get three months of home confinement and three years of probation.
Invasive cockroach can take the cold: The High Line, a park that turned a dilapidated stretch of elevated railway on Manhattan's West Side into one of New York's newest tourist attractions, may have brought a different kind of visitor: a cockroach that can withstand harsh winter cold and never seen before in the U.S. Rutgers University insect biologists Jessica Ware and Dominic Evangelista said the species Periplaneta japonica is well documented in Asia but was never confirmed in the United States until now. The scientists, whose findings were published in the Journal of Economic Entomology, said that it is too soon to predict the impact but that there is probably little cause for concern.
Press to require cameras: A week after four people died in a New York commuter train derailment, two federal lawmakers proposed Sunday that trains nationwide be outfitted with cameras pointed at engineers and at the tracks. "I know you're going to hear from Metro-North that there are costs, but the costs of these audio and visual recorders is minuscule, in fact negligible, compared to the hundreds of millions of dollars that this tragic incident will cost Metro-North in the end," said Sen. Richard Blumenthal of Connecticut who joined New York Sen. Charles Schumer for a news conference at Manhattan's Grand Central Terminal. Last Sunday, a Metro-North Railroad train approached a curve on the tracks just north of Manhattan going at 82 mph instead of the speed limit of 30 mph. Rail cars careened off the tracks, with the front car ending up inches from the water where the Hudson River meets the Harlem River.
Large anti-gov't protest: Hundreds of thousands of protesters poured into the streets of Ukraine's capital of Kievon Sunday, toppling a statue of former Soviet leader Vladimir Lenin and blockading key government buildings in an escalating standoff with the president over the future of the country. The biggest demonstration in the former Soviet republic since Ukraine's pro-democracy Orange Revolution in 2004 led the government to fire back. It announced an investigation of opposition leaders for an alleged attempt to seize power and warned the demonstrators they could face criminal charges. The West pressed for a peaceful settlement. Hundreds of thousands of Ukrainians flooded the center of Kiev, the capital, to demand President Viktor Yanukovych's ouster after he ditched ties with the European Union in favor of Russia and sent police to break up an earlier protest in the nearly three-week standoff.