CNBC Fed Survey Results: February 22, 2012

8/3/2019 CNBC Fed Survey Results: February 22, 2012

1/32

DEFD Aj` Tzvqjx Icezcvx 64. 6=36

]ckj 3 oa 46

AJ@ TZVQJXIcezcvx 64. 6=36

Pbjtj tzvqjx vjtznpt vj}vjtjep pbj o}hehoet oa ;:oa pbj ecphoet po} loejx lceckjvt.

heqjtpljep tpvcpjkhtpt. ce` }voajtthoecn jdoeolhtpt%

Pbjx vjt}oe`j` po DEFDt heqhpcphoe po }cvphdh}cpj he ozv oenhej tzvqjx% Pbjhv vjt}oetjt {jvjdonnjdpj` oe Icezcvx 32 ce` Icezcvx 38. 6=36% ]cvphdh}cept {jvj eop vjszhvj` po cet{jv

jqjvx szjtphoe%

Vjtznpt cvj cnto tbo{e aov h`jephdcn szjtphoet he jcvnhjv tzvqjxt%

Pbht ht eop hepje`j` po fj c tdhjephahd }onn ce` hpt vjtznpt tbozn` eop fj jrpvc}oncpj` fjxoe`pbotj {bo `h` cddj}p ozv heqhpcphoe%

3%[hnn pbjvj fj ceopbjv Aj`jvcn Vjtjvqj szcephpcphqjjcthek }vokvcl he pbj ejrp xjcv "36 loepbt(?

38*

12*

34*

01*

4;*

3;*

40*

:8*

;*

02*

01*

;*

02*

00*

2*

Xjt

Eo

@oe+p geo{/zetzvj

Iznx 6= Tzvqjx Czkztp 33 Tzvqjx Tj}pjlfjv 38 Tzvqjx

Odpofjv 43 Tzvqjx Icezcvx 64 Tzvqjx


2/32


]ckj 6 oa 46


6%Aov pbotj vjt}oe`jept {bo vj}nhj` Xjt po szjtphoe $39Bo{ ncvkj `o xoz jr}jdp pbj ej{ szcephpcphqj }vokvcl

{hnn fj oqjv pbj ejrp xjcv "36 loepbt(? ]njctj `o eophednz`j vjheqjtpljep oa lcpzvhek tjdzvhphjt%

$4;;

$162

$:6;

$0:;

$:1;

$=

$3==

$6==

$4==

$0==

$:==

$1==

$;==

Cqjvckj "He Fhnnhoet(




3/32


]ckj 4 oa 46


4%Aov pbotj vjt}oe`jept {bo vj}nhj` Xjt po szjtphoe $39 Cp{bhdb ljjphek oa pbj Aj`jvcn O}je Lcvgjp Dollhppjj `o

xoz pbheg pbj Aj` ht lotp nhgjnx po ceeozedj c ej{ SJ}vokvcl?

:*

3:*

:*

:*

=*

=*

61*

38*

;*

0*

0*

33*

4*

44*

66*

62*

2*

1*

=*

=*

=* :* 3=* 3:* 6=* 6:* 4=* 4:*

Icezcvx 6=36

Lcvdb

C}vhn

Izej

Iznx

Tj}pjlfjv

Odpofjv

@jdjlfjv 6=36

Tj}pjlfjv 38 Tzvqjx Odpofjv 43 Tzvqjx Icezcvx 64 Tzvqjx


4/32


]ckj 0 oa 46


0%@o xoz jr}jdp pbj Aj`jvcn Vjtjvqj po dbcekj pbj phljvjajvjedj he hpt kzh`cedj pbcp hp &cephdh}cpjt pbcp

jdoeolhd doe`hphoetcvj nhgjnx po {cvvcep jrdj}phoecnnxno{ njqjnt aov pbj aj`jvcn aze`t vcpj cp njctp pbvozkblh`,6=34?&

:=*

01*

0*=*

3=*

6=*

4=*

0=*

:=*

1=*

Xjt Eo @oe+p Geo{/Zetzvj


5/32


]ckj : oa 46


:%Po {bcp phlj }jvho` `o xoz jr}jdp pbj Aj` {hnn dbcekjhpt kzh`cedj?

2*

4*

=*

30*

4=*

:*

=*

=*

03*

=*

=* :* 3=* 3:* 6=* 6:* 4=* 4:* 0=* 0:*

Lh` 6=36

Je` 6=36

Lh` 6=34

Je` 6=34

Lh` 6=30

Je` 6=30

Lh` 6=3:

Ncpjv pbce lh` 6=3:

@vo} vjajvjedj po c t}jdhahd phlj

@oe+p geo{/zetzvj


6/32


]ckj 1 oa 46


1%@o xoz tz}}ovp pbj AOLD+t `jdhthoe po }zfnhtb hptljlfjvt+ aovjdctpt aov pbj aj`jvcn aze`t vcpj?

1;*

62*

:*

=*

3=*

6=*

4=*

0=*

:=*

1=*

;=*

2=*



7/32


]ckj ; oa 46


;%[bx `o xoz pbheg pbj AOLD `jdh`j` po }zfnhtb ljlfjvhepjvjtp vcpj aovjdctpt?

Opbjv vjt}oetjt9

Po loqj c{cx avol {bcp tolj tc{ ct c dollhpljep po gjj} vcpjt cp c djvpchenjqjn aov c t}jdhahj` }jvho` oa phlj

Pbjx qhj{ pvcet}cvjedx ct c kocn he hpt o{e vhkbp To {j geo{ bo{ pbj doetjetzt dclj cfozp Ct c tpj} po{cv` heancphoe pcvkjphek Po fjppjv lceckj jr}jdpcphoet he ce zedjvpche {ovn` ce` zenodg loejx oe pbj

th`jnhejt

Lhtkzh`j` pvcet}cvjedx doedj}p Dollzehdcphoe }onhdx

46*

36*

00*

=*4*

8*

=*

:*

3=*

3:*

6=*

6:*

4=*

4:*

0=*

0:*

:=*

Fjdcztj oa hpt

dollhpljep

popvcet}cvjedx

Ct c {cx po

thkecn jcthjv

loejpcvx}onhdx

Fopb Ejhpbjv @oe+p

Geo{/Zetzvj

Opbjv


8/32


]ckj 2 oa 46


2%Bo{ {hnn pbj }zfnhdcphoe oa ljlfjvt+ aj` aze`t pcvkjptcaajdp Z%T% foe`t?

46*

:4*

8*

:*=*

3=*

6=*

4=*

0=*

:=*

1=*

No{jv xhjn`t Eo dbcekj Bhkbjv Xhjn`t @oe+p Geo{/Zetzvj


9/32


]ckj 8 oa 46


8%Bo{ {hnn pbj }zfnhdcphoe oa ljlfjvt+ aj` aze`t pcvkjptcaajdp Z%T% tpodgt?

3*

:8*

46*

2*

=*

3=*

6=*

4=*

0=*

:=*

1=*

;=*

No{jv }vhdjt Eo dbcekj Bhkbjv }vhdjt @oe+p Geo{/Zetzvj


10/32


]ckj 3= oa 46


3=%Bo{ {hnn pbj }zfnhdcphoe oa ljlfjvt+ aj` aze`t pcvkjptcaajdp loejpcvx }onhdx?

62*

01*

6=*

:*

=*

:*

3=*

3:*

6=*

6:*

4=*

4:*

0=*

0:*

:=*

Hl}voqj hp Eo dbcekj Lcgj hp {ovtj @oe+p Geo{/Zetzvj


11/32


]ckj 33 oa 46


33%Bo{ {hnn pbj }zfnhdcphoe oa ljlfjvt+ aj` aze`t pcvkjptcaajdp pbj Z%T% jdoeolx?

63*

18*

4*;*

=*

3=*

6=*

4=*

0=*

:=*

1=*

;=*

2=*

]othphqj hl}cdp Eo hl}cdp Ejkcphqj hl}cdp @oe+p Geo{/Zetzvj


12/32


]ckj 36 oa 46


36%Bo{ {hnn pbj }zfnhdcphoe oa ljlfjvt+ aj` aze`t pcvkjptcaajdp Z%T% heancphoe?

3*

;;*

30*

2*=*

3=*

6=*

4=*

0=*

:=*

1=*

;=*

2=*

8=*

Vj`zdj heancphoe Eo hl}cdp Hedvjctj heancphoe @oe+p geo{/zetzvj


13/32


]ckj 34 oa 46


34%Bo{ {hnn pbj }zfnhdcphoe oa ljlfjvt+ aj` aze`t pcvkjptcaajdp Z%T% jl}noxljep?

38*

;:*

4* 0*

=*

3=*

6=*

4=*

0=*

:=*

1=*

;=*

2=*

]othphqj hl}cdp oejl}noxljep "lovj

ioft dvjcpj`(

Eo hl}cdp Ejkcphqj hl}cdp oejl}noxljep "aj{jv

ioft dvjcpj`(

@oe+p Geo{/Zetzvj


14/32


]ckj 30 oa 46


30%Tbozn` pbj Aj` dbcekj hpt kzh`cedj aov bo{ noek hp {hnngjj} hepjvjtp vcpjt no{ avol c dcnje`cv `cpj po

jdoeolhd pcvkjpt. tzdb ct heancphoe. zejl}noxljep. oveolhecn K@]?

41*

:;*

;*

:=*

01*

0*=*

3=*

6=*

4=*

0=*

:=*

1=*

;=*




15/32


]ckj 3: oa 46


3:%[bcp pcvkjp ov pcvkjpt tbozn` pbj Aj` ztj?

Vjt}oe`jept {jvj cfnj po tjnjdp lovj pbce oej vjt}oetj. to }jvdjepckjt popcn lovj pbce 3==*

21*

03*

:=*

:*

;1*

0;*

06*

:*=*

3=*

6=*

4=*

0=*

:=*

1=*

;=*

2=*

8=*

3==*

Heancphoe Zejl}noxljep Eolhecn K@] Opbjv


16/32


]ckj 31 oa 46


31%[hnn pbj dbcekj he AOLD qophek ljlfjvt he 6=36 vjtznphe jcthjv }onhdx?

6=*

08*

43*

48*

00*

3;*

=*

3=*

6=*

4=*

0=*

:=*

1=*




17/32


]ckj 3; oa 46


3;%Bo{ {ozn` xoz dbcvcdpjvhyj pbj Aj`+t dzvvjeploejpcvx }onhdx?

03*

:6*

4*

:*

61*

:6*

36*

3=*

48*

0=*

36*

8*

40*

02*

3=*

2*

4;*

0:*

36*

:*

=* 3=* 6=* 4=* 0=* :=* 1=*

Poo cddollo`cphqj

Iztp vhkbp

Poo vjtpvhdphqj

@oep geo{/Zetzvj




18/32


]ckj 32 oa 46


32%[bcp kvc`j {ozn` xoz khqj Aj` Dbchvlce FjeFjvecegj?

Ezljvhdcn cqjvckj fctj` oe C


19/32


]ckj 38 oa 46


38%[bjvj `o xoz jr}jdp pbj T!] :== tpodg he`jr {hnn fjoe ?

Pbht ht pbj ahvtp tzvqjx he {bhdb {j ctgj` aov c @jdjlfjv 43. 6=36 aovjdctp%

3063

343=

3436

34:2

3468

342;

Izej 4=. 6=36

@jdjlfjv 43. 6=36

Iznx 6= Tzvqjx Czkztp 33 Tzvqjx Tj}p 38 Tzvqjx

Odp 43 Tzvqjx Icezcvx 64 Tzvqjx


20/32


]ckj 6= oa 46


6=%[bcp `o xoz jr}jdp pbj xhjn` oe pbj 3=,xjcv Pvjctzvxeopj {hnn fj oe ?

Pbht ht pbj ahvtp tzvqjx he {bhdb {j ctgj` aov c @jdjlfjv 43. 6=36 aovjdctp%

4%;:*

6%88*

6%:8*

6%;;*

6%38*

6%:6*

Izej 4=. 6=36

@jdjlfjv 43. 6=36


Odp 43 Tzvqjx Icezcvx 64 Tzvqjx


21/32


]ckj 63 oa 46


63%[bcp ht xozv aovjdctp aov pbj xjcv,oqjv,xjcv}jvdjepckj dbcekj he vjcn Z%T% K@]?

Pbht ht pbj ahvtp tzvqjx he {bhdb {j ctgj` aov c 6=34 aovjdctp%

'6%2:*

'6%0;*

'6%60*

'6%4;*

'6%0:*

'6%:8*

6=36

6=34




22/32


]ckj 66 oa 46


66%[bje `o xoz pbheg pbj AOLD {hnn ahvtp hedvjctj pbj aj`aze`t vcpj?

=*

3*

3*

2*

:*

32*

30*

33*

30*

3=*

0*

4*

3=*

4*

=* :* 3=* 3:* 6=*

6=36 , S3

S6

S4

S0

6=34 , S3

S6

S4

S0

6=30 , S3

S6

S4

S0

6=3: ov ncpjv

@oe+p geo{/zetzvj


23/32


]ckj 64 oa 46


64%[bje `o xoz pbheg pbj Aj`jvcn Vjtjvqj {hnn lcgj hptahvtp }nceej` `jdvjctj he pbj thyj oa hpt fcncedj tbjjp?

=*

4*

4*

3=*

36*

33*

33*

0*

30*

3=*

4*

3*

32*

4*

=* :* 3=* 3:* 6=*

6=36 , S3

S6

S4

S0

6=34 , S3

S6

S4

S0

6=30 , S3

S6

S4

S0

6=3: ov ncpjv

@oe+p geo{/zetzvj


24/32


]ckj 60 oa 46


60%[bjvj `o xoz jr}jdp pbj aj` aze`t pcvkjp vcpj {hnn fjoe ?

Pbht ht pbj ahvtp tzvqjx he {bhdb {j ctgj` aov c Izej 4=. 6=34 aovjdctp%

=%0;*

3%=3*

=%34*

=%6:*

=%31*

=%6;*

=%66*

=%4:*

=%30*

=%6=*

=%03*

=%=* =%6* =%0* =%1* =%2* 3%=* 3%6*

Izej 4=

6=36

@jd 436=36

Izej 4=6=34




25/32


]ckj 6: oa 46


6:%He pbj ejrp 36 loepbt. {bcp }jvdjep }vofcfhnhpx `o xoz}ncdj oe pbj Z%T% jepjvhek vjdjtthoe? "=*


26/32


]ckj 61 oa 46


61%[bcp ht pbj }vofcfhnhpx. he xozv o}hehoe. pbcp jcdb oapbj aonno{hek dozepvhjt {hnn `jacznp oe hpt `jfp he pbj

ejrp pbvjj xjcvt? "=*


27/32


]ckj 6; oa 46


6;%[bcp ht xozv ozpnoog aov pbj Jzvo}jce Loejpcvx Zehoeahqj xjcvt avol eo{

06*

:4*

=*

:*

0;*

:6*

6*

=*

60*

14*

1*

2*

=* 3=* 6=* 4=* 0=* :=* 1=* ;=*

Eo dozepvhjt {hnn fj jijdpj` ov njcqj

Tolj dozepvhjt {hnn fj jijdpj` ov njcqj

Hp {hnn fj ncvkjnx `httonqj` ce` lotpJzvo}jce dozepvhjt {hnn bcqj pbjhv o{e

dzvvjedx

@oe+p geo{/zetzvj

Iznx 63 Tzvqjx Odp 43 Tzvqjx Icezcvx 64 Tzvqjx


28/32


]ckj 62 oa 46


62%[bcp ht xozv }vhlcvx cvjc oa hepjvjtp?

Dolljept9

Vofjvp Fvztdc. Acdp ce` O}hehoe Jdoeolhdt9 Kh}tht he fhkkjtp pvozfnj "Kvjjdj. Hvjnce`

]ovpzkcn. T}che. Hpcnx(% Hpcnx ht poo fhk po `jacznp fzp hp ht he pvozfnj% ]ovpzkcn. T}che. ce`

Kvjjdj bcqj bzkj ahecedhcn ce` dol}jphphqjejtt }vofnjlt ct {jnn% [bhnj jqjvxoej ht aodztjòe vchthek loejx pbj VJCN HTTZJ ht bo{ po vjtpovj dol}jphphqjejtt% Ce` pbcp ht bcv` po ahr

{hpbozp c `j}vjdhcphoe oa pbj dzvvjedx. ce` pbcp dce+p fj òej {hpbozp njcqhek pbj jYoej ce`

ha pbcp HT òej `jacznp ht szhpj nhgjnx% Pbzt pbj lotp hl}ovpcep pbhek po ahr ht dol}jphphqjejtt

"ce` hp ht eop jqje oe pbj pcfnj(%

Poex Dvjtdjeyh. ]HLDO9 Pbjvj cvj pbvjj ofijdphqjt po pbj Aj`+t z}dolhek dollzehdcphoet

tpvcpjkx9 3( Ancppje pbj aov{cv` dzvqjt. {bhdb ht po tcx. }ztb azvpbjv ozp jr}jdpcphoet aov pbj

c vjqjvtcn he loejpcvx }onhdx% 6( No{jv hepjvjtp vcpj qoncphnhpx fx cedbovhek vcpjt qhc pbj

doe`hphoecn vcpj dollhpljep% 4( ]ztb heqjtpovt po loqj ozp pbj vhtg t}jdpvzl%

Lhgj @zjgjv. Vzttjnn Heqjtpljept9 Aj` }onhdxlcgjvt bcqj cn{cxt fjje pon` po tzflhp

aovjdctpt oa ozp}zp. heancphoe ce` zejl}noxljep doe`hphoecn oe {bcp pbjx }jvdjhqj po fj

&c}}vo}vhcpj& loejpcvx }onhdx% [hpb pbj aj`jvcn aze`t vcpj eo{ oe pbj nhtp. pbj htphedphoe

fjp{jjelotp nhgjnxce` &c}}vo}vhcpj& }onhdx tjjlt lovj hl}ovpcep ce` kncvhek pbce jqjv%

Ceopbjv ej{ ajcpzvj ht pbcp pbj aovjdctpt {hnn fj cppcdbj` po t}jdhahd ljlfjvt oa pbj AOLD,,,

pbjx eo noekjv {hnn fj cfnj po bh`j he pbj }cdg% Ahrj`,hedolj lcvgjpt {hnn bcqj po fj qjvx

dcvjazn he hepjv}vjphek pbj }cpb aov pbj aj` aze`t vcpj }zp aov{cv` fx cex he`hqh`zcn

}onhdxlcgjv% Tbj/bj lhkbp tzflhp c }cpb aov pbj aj` aze`t vcpj pbcp tbj/bj `jjlt

Jdoeolhdt

:3*

Jszhphjt

63*

Ahrj`

Hedolj30*

Dzvvjedhjt

3*Opbjv

30*


29/32


]ckj 68 oa 46


c}}vo}vhcpj fzp eop cp cnn nhgjnx% Pbht `htphedphoe {ct njtt lcpjvhcn aov ozp}zp ce` heancphoe

aovjdctpt% Pbj lche }zv}otj oa c``hek pbj aj` aze`t vcpj po pbj nhtp oa AOLD aovjdctpt ht po

}othp c }cpb aov pbj aze`t vcpj pbcp ht fjnhjqj` po fj doethtpjep {hpb ce heancphoe pcvkjp% Pbj

Aj` cnto {cept po khqj c }vjqhj{ oa pbj phlj avclj hp jr}jdpt po bcqj pbj vcpj ejcv yjvo%

Fvjpp Kcnnckbjv. Cvpho Knofcn Heqjtpovt9 Pbj cdphoet pcgje fx [jtpjve loejpcvx ce`

}onhphdcn jephphjt {hnn }vonoek pbj dzvvjep lcnchtj. jetzvhek doephezj` tno{ jdoeolhd ce` ioft

kvo{pb aov lcex xjcvt hepo pbj azpzvj% Vcpbjv pbce pcghek pbj lj`hdhej ce` dnjcehek ozp pbj

hlfcncedjt. {bhdb {ozn` vjszhvj zt po tzaajv tolj ejcv,pjvl `htdolaovp. pbjx {ozn` vcpbjv

jrpje` ozv thdgejtt he`jahehpjnx%

Fvhce Kje`vjcz. Ahecedhcn Ejp{ovg9 Cp pbj fjkheehek oa nctp xjcv jdoeolhtpt ce`

tpvcpjkhtpt {jvj o}phlhtphd ce` ozpdoljt {jvj `htc}}ohephek% Pbht xjcv pbjx cvj lovj

dczphozt. tzkkjtphek cex tzv}vhtj {hnn fj po pbj z}th`j%

@ce Kvjjebczt. FPHK9 Ha xoz fjnhjqj pbj dotp oa loejx lcppjvt. pbje no{jv hepjvjtp vcpjt

tbozn`. ct cn{cxt. bjn} footp pbj jdoeolx fjxoe` {bjvj hp opbjv{htj lhkbp fj% Fzp ha xoz

fjnhjqj pbj dotp oa loejx òjt eop lcppjv. ct H ò eop. pbje lo`jvcpjnx jcthjv }onhdx tbozn`

bcqj. cp fjtp. c lo`jvcpj jaajdp%

Tpzcvp Boaalce. ]ED9 SJ 4 ht eop ejdjttcvx ce` dozn` fj dozepjv}vo`zdphqj po cdbhjqhek

pbj Aj`+t `zcn lce`cpj%

Njj Botghet. ]cdhahd Vjtjcvdb Hetphpzpj9 Pbj Aj` ht cppjl}phek po cddjnjvcpj pbj kvo{pb he

K@] fzp bct eo cfhnhpx po ò to oqjv pbj hepjvlj`hcpj pjvl ce` vhtgt heancphoe fx òhek to% Pbj

Aj` ejj`t po tpcvp eovlcnhyhek hepjvjtp vcpjt ce` tpo} hepjvqjehek he pbj xhjn` dzvqj%

Bzkb Iobetoe. Bzkb Iobetoe C`qhtovt9 Ljttckj oa ahecedhcn lcvgjpt donnjdphqjnx ce`

hl}ovpcep loejpcvx ce` jdoeolhd qcvhcfnjt ht pbcp pbj Z%T% jdoeolx {hnn doephezj po jr}ce`

pbvozkb 6=34%%%cnpbozkb pbj kvo{pb vcpj oa pbj jdoeolx "vjcn K@](. jl}noxljep. ce`

doetzl}phoe {hnn fj fjno{ noekjv,pjvl cqjvckjt ct pbj `jnjqjvckhek }vodjtt doephezjt%

Iobe Gcppcv. Jctpjve Heqjtpljep C`qhtovt9 Lx fjp ht oe eolhecn K@] pcvkjphek eo ncpjv

pbce pbj C}vhn ljjphek% @zvhek 6=36. cnn oa pbj lciov djepvcn fcegt he pbj {ovn` {hnn jctj.

cnpbozkb }vofcfnx eop he doov`hecpj` actbhoe ce` po qcvxhek `jkvjjt%

Fcvvx Gec}}. Fcvdncxt ]ND9 Pbj lotp hepjvjtphek szjtphoe ht {bjpbjv pbj Aj` {hnn cò}p c

lovj jr}nhdhp heancphoe pcvkjp% Ha pbjx bhep cp SJ4 {j {ozn` jr}jdp jszhphjt po vjcdp ejkcphqjnx

ct pbj lcvgjp aodztjt oe pbj jdoeolhd thkecnhek jaajdp. ov he opbjv {ov`t lcxfj pbj Aj`

geo{t toljpbhek {j òe+p cfozp pbj òljtphd jdoeolx. knofcn kvo{pb. ov JZ cvjc fceg

`jnjqjvckhek%

@cqh` Gopog. Dzlfjvnce` C`qhtovt9 Anx ahtbhek ht lovj }vj`hdpcfnj pbce jdoeolhd

ozpdoljt% Lovj aze. poo% "@cqh` cet{jvj` pbht tzvqjx qhc [hah avol Vho ]zjno+t Cnpc ]zjno

No`kj he Dbhnj%(


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]ckj 4= oa 46


Tzfo`b Gzlcv. Tzfo`b Gzlcv ! Cttodhcpjt9 Cfh`hek njttoe aov djepvcn fcegt. [cnn

Tpvjjp. ce` heqjtpovt ht pbcp txtpjlhd vhtg dceeop fj `hqjvthahj` c{cx% Vhtg cìztpljept

vjdokehyhek pbht cvj tphnn ze`jv{cx ce` dczthek qoncphnhpx po vjlche jnjqcpj`

Kzx NjFct. Iceejx Loepkoljvx Tdopp9 [j+vj hedvjctheknx doedjvej` cfozp pbj njqjn oa

&Jdo,}bovhc& pbcp bct heajdpj` pbj lcvgjpt% Pbcp ht. pbj hepjv}vjpcphoe oa vjdjep &og&

jdoeolhd `cpc bct fjje acv lovj o}phlhtphd pbce pbj ze`jvnxhek ezlfjvt iztphax. ce` pbcp+t

tjpphek z} pbj lcvgjpt aov tolj `htc}}ohepljep oedj 0S kvo{pb ezlfjvt cvj vjnjctj`%

Iobe Noetgh. Loo`x+t9 Pbj Aj` tpvhqjt po }volopj &vhtg ponjvcedj% Ha Jzvo}j tpcfhnhyjt

tooe jeozkb. eopj{ovpbx vcnnhjt fx jszhphjt ce` dov}ovcpj dvj`hp {hnn jetzj% [bo {ozn` bcqj

jqjv pbozkbp pbj eo{ acqovj` }vorx aov Jzvo}jce vhtg ,, pbj 3=,xjcv Hpcnhce koqjveljep

foe` xhjn` ,, {ozn` nool to ncvkj?

@vj{ Lcpzt. ZFT Heqjtpljep Vjtjcvdb9 Dbcekj po Aj` aovjdctpt aov AA vcpj vcpbjv pbce`cpj t}jdhahj` he tpcpjljep tbozn` tcphtax fopb òqjt ce` bc{gt%

[cv` LdDcvpbx. Ijaajvhjt9 H pbheg pbj AOLD {hnn doephezj po }voqh`j dcnje`cv vjavjedj he

}voqh`hek vcpj kzh`cedj. fzp }zp hp he pbj doepjrp oa pbj AOLD jdoeolhd aovjdctpt%

Vof Lovkce. Azndvzl Tjdzvhphjt9 Pbj kvo{hek tpvjekpb he pbj jdoeolx {hnn cnlotp

djvpchenx aovdj pbj Aj` po cfceòe pbj dollhppjj+t }nj`kj po gjj} vcpjt tpjc`x pbvozkb lh`,

6=34%

Iojn Ecvoaa. Ecvoaa Jdoeolhd C`qhtovt9 Fcvvhek c Jzvo}jce ljnpò{e. kvo{pb ht nhgjnx po

doephezj cddjnjvcphek ce` fj tpvoekjv pbce jr}jdpj` {bhdb {hnn dcztj pbj Aj` po fj lovj

o}phlhtphd fx pbj je` oa pbj xjcv% Pbjx {hnn tpcvp thkecnhek dbcekjt fx pbje fzp cvj eop nhgjnxpo hl}njljep cex vcpj bhgjt zephn pbjx pcgj cdphoe oe pbj fcncedj tbjjp% Pbcp }ztbjt vcpj

bhgjt hepo pbj tzlljv ov acnn oa 6=34%

Lcvd ]cò. Dcepov Ahpykjvcn`9 No{ heqjepovhjt. tpvoek dotp doepvont. no{ dov}ovcpj `jfp.

ce` bhkb dctb njqjnt tbozn` cqjvp c vjdjtthoe ce` lchepche tno{ kvo{pb% Pbj gjx ht pbj ]/J

vcpho% Hp ht qjvx no{% &]jvdj}phoe& ejj`t po dbcekj po loqj lcvgjpt bhkbjv%

Icljt ]czntje. [jnnt Dc}hpcn Lceckjljep9 H achn po ze`jvtpce` bo{ &`hqjvtj hepjvjtp

vcpj aovjdctp& ce` doetpcep &dbcppjv& fx 36 ljlfjvt oa pbj Aj` {hpb &`hqjvtj qhj{t& }voqh`jt

dncvhpx po pbj ahecedhcn lcvgjpt ce` fzthejttjt%%%%%%vcpbjv. hp {ozn` tjjl po c`` po zedjvpchepx

ce` thl}nx dvjcpj lovj ajcv% Ha pbj Aj` {cept po footp doeah`jedj. pbjx {ozn` ò fjppjv fx

&tcxhek njtt& ce` njpphek pbjhv cdphoet t}jcg aov pbjltjnqjt

Nxee Vjctjv. ]ohep Nolc Ecycvjej Zehqjvthpx9 Pbj Aj`+t `jdhthoe po }zfnhtb hpt aovjdctpt

dcvvhjt pbvjj }vhlcvx vhtgt9 "3( Hp }ncdjt lovj cppjephoe oe hpt aovjdctphek cfhnhpx vjncphqj po

hpt }onhdx vonj7 "6( Hp dozn` `clckj hpt dvj`hfhnhpx7 ce` "4( Hp dozn` fhct }onhdx `jdhthoet po

cdbhjqj pbj aovjdctpt%


31/32


]ckj 43 oa 46


Iobe Vofjvpt. Bhnnhcv` Nxoet9 [j tjj c }othphqj S0 jcvehekt tjctoe ce` }othphqj tjephljep

aov pbj ej{ xjcv tje`hek pbj T!] :== z} po lovj pbce 34:= fjaovj c }znnfcdg fjno{ 36==

`vhqje fx doephezhek Jzvo}jce }vofnjlt. no{jv jcvehekt jtphlcpjt `vhqje fx `jdnhehek }voahp

lcvkhet ce` c bhkb njqjn oa }o}znhtp vbjpovhd he pbj ]vjth`jephcn dcl}chke% Bo{jqjv. {j

cephdh}cpj c tbcv} hedvjctj he pbj lcvgjp aonno{hek pbj jnjdphoe hepo pbj xjcv,je` ct {j tjj

pbj ]vjth`jep fjhek vj,jnjdpj` fzp pbj Vj}zfnhdcet pcghek doepvon oa fopb boztjt oa Doekvjtt%

Pbj kvh`nodg pbcp jetzjt. dolfhej` {hpb tolj ckvjjljep oe pbj `jfp httzjt ce` c vjdoqjvhek

jdoeolx. tjpt pbj fctht aov c qjvx tpvoek fznn lcvgjp he 6=34. ct heqjtpovt fjkhe po dol}cvj

pbj no{ hepjvjtp vcpj jeqhvoeljep po c lcvgjp ]/J vcpho he pbj 36 vcekj ce` heqjtpovt }ztb

pbj lcvgjp ]/J dnotj po 30 fx xjcv,je` 6=34%

Dbvht Vz}gjx. Fceg oa Pogxo,Lhptzfhtbh9 Pbj djepjv oa pbj Dollhppjj ht thkecnhek pbcp SJ

LFT }vokvcl ht }otthfnj% H ò eop qhj{ pbht ct aznn,fno{e szcephpcphqj jcthek cnpbozkb pbj AR

lcvgjpt lhkbp% Hp ht òej po bjn} {hpb pbj ahecedhek }vofnjlt jr}jvhjedj` fx lcex he pbj

lovpkckj lcvgjpt% Pbj Aj` ajjnt pbj {jhkbp oa pbj ecphoe+t zejl}noxj` oe pbjhv tbozn`jvt

ce` {cept po pvx po o lovj po bjn}% Pbht ht oej {cx po bjn} {hpbozp "lcxfj( fjhek dvhphdhyj`

aov {cepoenx }vhephek loejx% Hp ht pcvkjpj`. phljnx. ce` pjl}ovcvx. cex LFT }zvdbctj

}vokvcl%

Iobe Vx`hek. V@S Jdoeolhdt9 Pbj }zfnhdcphoe oa pbj hepjvjtp vcpj cttzl}phoet fjbhe` pbj

AOLD aovjdctpt {hnn lcgj pbj aovjdctpt jcthjv po hepjv}vjp% Cp pbj }vjtjep phlj {j bcqj

aovjdctpt fctj` oe ze}zfnhtbj` }onhdx cttzl}phoet. {bhdb lcgjt pbj aovjdctpt aov pbj

ozpxjcvt `haahdznp po hepjv}vjp%

Vofjvp Tbc}hvo. Toejdoe9 Pbj jdoeolx ht hl}voqhek ahecnnx. fzp pbj Jzvoyoej `jfp dvhtht

}otjt c thkehahdcep pbvjcp po kvo{pb pbht xjcv ce` ejrp%

Bceg Tlhpb. Bcqjvaov` Heqjtpljept9 H cl c Vj}zfnhdce% Pbj Vj}zfnhdce }vhlcvx

dce`h`cpjt {bo cvj dvhphdhyhek Fjvecegj%%%%Khekvhdb ce` ]czn%%%%%cvj aznn oa hp% Fjvecegj bct

òej ce jrpvcov`hecvx iof. }cvphdzncvnx khqje pbj noztx ahtdcn }onhdx bj bct bc` po `jcn {hpb%

Tpj}bje Tpcenjx. ]hjv}oep Tjdzvhphjt9 [hpb zejl}noxljep acnnhek ce` pbj heancphoe vcpj

lzdb bhkbjv pbce he 6=3=. pbj Aj` ht aov hejr}nhdcfnj vjctoet hepjep oe doephezhek po c`` po

pbj dzvvjep `jkvjj oa cddollo`cphoe% Pbj dzvvjep kvoz}+t vjcdphoe azedphoe ht c vc`hdcn

`j}cvpzvj avol bhtpovhdcn eovlt%

@hcej T{oeg. Ljthvo{ Ahecedhcn9 Pbj gjx po 6=36 ht pbcp Jzvo}j loqjt avol fjhek c

dvhtht po c dbvoehd }vofnjl. ce` pbcp [ctbhekpoe òjt toljpbhek oa ztj aov `jahdhp vj`zdphoe`zvhek pbj nclj `zdg Doekvjtt%

]jpjv Pceozt. Nxer Heqjtpljep C`qhtovx9 Pbj jdoeolx {hnn fj tpvoekjv pbce jr}jdpj` he

6=36. nj` fx bhkbjv doetzljv t}je`hek ce` c vjfoze` he bozthek lzdb jcvnhjv pbce lotp

jr}jdp% Pbj bozthek caaov`cfhnhpx he`jr ht cp ce cnn,phlj bhkb% Pbj vjdoqjvx `j}je`t oe c


32/32


tpvoek vjfoze` he bozthek ce` hp+t oe hpt {cx% Jzvo}j {hnn doephezj po fj c th`jtbo{ fzp lotp

oa pbj fc` o}phoet cvj oe pbj pcfnj ce` geo{e%

Ictoe Pvjeejvp. Tpvcpjkct9 He pbj cftjedj oa kvo{e,z} noek,pjvl ahtdcn }onhdhjt. cnn voc`t

njc` po c``hphoecn szcephpcphqj jcthek he fopb pbj Z%T% ce` he Jzvo}j%

Lcvg Qhpejv. [jnnt Acvko9 Hp noogt nhgj {j cvj kohek po fj tchnhek pbvozkb tolj vozkb tjct

he 6=36% Pbj Aj` {hnn pvx po ò jqjvxpbhek he pbjhv }o{jv po lhehlhyj pbj hl}cdp oe pbj Z%T%

jdoeolx ce` ahecedhcn lcvgjpt fzp pbjvj cvj nhlhpt ct po {bcp pbjx dce ò%

Tdopp [vje. [jnnt Acvko C`qhtovt9 H pbheg tolj heqjtpovt {hnn tjj pbj fjppjv aozvpb szcvpjv

K@] ezlfjv ejrp {jjg%%%%%nhgjnx cvoze` 4*%%%%ce` pvx po jrpvc}oncpj pbcp kohek aov{cv`%

Pbcp {ozn` fj c lhtpcgj. he lx o}hehoe% K@] he 6=36 {hnn }vofcfnx fj c pozdb cfoqj 6*%

Pbj Z%T% ce` opbjv `jqjno}j` ecphoet {hnn fj `jnjqjvckhek aov xjcvt po dolj%

Lcvg Yce`h. Loo`x+t Cecnxphdt9 Hp {oe+p fj c fvjcg,ozp xjcv aov pbj jdoeolx. fzp 6=36

{hnn fj fjppjv pbce 6=33% Jzvo}j vjlchet pbj lotp tjvhozt pbvjcp po pbht o}phlhtl. fzp {hpb

pbj JDF+t vjdjepnx ckkvjtthqj cdphoet hp ht vjdj`hek ct c pbvjcp% Hp ht cnto jedozvckhek pbj Aj`

vjlchet oe bhkb cnjvp ce` pbj fcv aov c``hphoecn loejpcvx jcthek c}}jcvt po fj qjvx no{ {hpb

pbj vjdjep dbcekjt po pbj AOLD% [bjpbjv pbj Aj` cdpzcnnx jctj azvpbjv `j}je`t dvhphdcnnx oe

{bcp ahtdcn }onhdxlcgjvt ò ov òe+p ò vjkcv`hek pbj jrpjethoe oa pbj }cxvonn pcr bonh`cx ce`

jljvkjedx ZH }vokvcl ce` pbj jr}hvhek Fztb,jvc pcr dzpt%

Dncvj Yjl}jn. Yjl}jn Tpvcpjkhd9 Pbj Lcvgjp Loejpcvhtp+t qhj{ lcgjt pbj lotp tjetj% Pbj

Aj` ce` pbj JDF ejj` po tbhap avol pbjhv ejcv,oftjtthqj aodzt oe heancphoe po Eolhecn K@]

pcvkjphek%

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CNBC Fed Survey Results: February 22, 2012