A clear majority of fund managers, economists, and strategists polled by CNBC expect the Federal Reserve to implement a new interest rate cut on Wednesday.

Rate Cut Expected

A CNBC poll of 43 experts found nearly 80% of respondents expect the Fed to declare its third rate cut of 2019 on Wednesday, CNBC reported. In addition, 63% of respondents expect a rate cut this week to be the Fed's last one for the year while 40% think there won't be a single rate cut in 2020.

One of the respondents, Haverford Trust Co director of fixed income John Donaldson, told CNBC after a rate cut on Wednesday there would be "no evidence" that additional cuts will boost the economy.

Recession Fears

The CNBC poll also found 34% of experts see a recession hitting the U.S. in 2020 -- the highest polling number seen since 2011, according to CNBC. Under a base case scenario, economic growth will slow down from 2.9% in 2018 to just 1.75% this year but rebound to 2% in 2020 and 2021.

"The most critical issue facing the economy is the trade war and interest rate cuts will do little to change the course of growth as long as the threats of tariffs persist," Joel L. Naroff, president, Naroff Economic Advisors, told CNBC.

Trump Gets Best Grades

On a scale of one to 10, respondents on average graded President Trump's economic policies at 5.5, CNBC wrote. This figure trump's Former Vice President Joe Biden's rating of 4.7, Sen. Bernie Sanders' score of 2.0 and Sen. Elizabeth Warren's 2.5.

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