CNBC Fed Survey Results: March 16, 2012

8/2/2019 CNBC Fed Survey Results: March 16, 2012

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MG@M Cdl ]tpsdr ” Jopmf ?3( 09?0Yond ? kc 03

CDL ]TPSDRJopmf ?3( 09?0

\fd}d }tpsdr pd}th|} pdypd}dg| |fd kybgbkg} kc 3> kc |fd go|bkg‒} |ky jkgdr jogondp}(

bgsd}|jdg| }|po|dnb}|}( ogl ypkcd}}bkgoh dmkgkjb}|}'

\fdr pd}ykgldl |k MG@M‒} bgsb|o|bkg |k yop|bmbyo|d bg ktp kghbgd }tpsdr' \fdbp pd}ykg}d} ~dpdmkhhdm|dl kg Jopmf ?= oc|dp |fd Cdldpoh Pd}dpsd‒} jdd|bgn }|o|djdg| ~o} pdhdo}dl( ogl kg

Jopmf ?<*?4( 09?0' Yop|bmbyog|} ~dpd gk| pdqtbpdl |k og}~dp dsdpr qtd}|bkg'

Pd}th|} opd oh}k }fk~g ckp bldg|bmoh qtd}|bkg} bg dophbdp }tpsdr}'

\fb} b} gk| bg|dgldl |k `d o }mbdg|bcbm ykhh ogl b|} pd}th|} }fkthl gk| `d dv|poykho|dl `drkgl

|fk}d ~fk lbl ommdy| ktp bgsb|o|bkg'

?' ̂ bhh |fdpd `d ogk|fdp Cdldpoh Pd}dpsd qtog|b|o|bsddo}bgn ypknpoj bg |fd gdv| rdop &?0 jkg|f}";

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Gk

Lkg.| agk~+tg}tpd

Ethr 09 ]tpsdr Otnt}| ?? ]tpsdr ]dy|dj`dp ?2 ]tpsdr

Km|k`dp =? ]tpsdr Eogtopr 0= ]tpsdr Jopmf ?3 ]tpsdr



MG@M Cdl ]tpsdr ” Jopmf ?3( 09?0Yond 0 kc 03


0' Ckp |fk}d pd}ykgldg|} ~fk pdyhbdl ‖Rd}‒ |k qtd}|bkg -?5Fk~ hopnd lk rkt dvydm| |fd gd~ qtog|b|o|bsd ypknpoj

~bhh `d ksdp |fd gdv| rdop &?0 jkg|f}"; Yhdo}d lk gk|bgmhtld pdbgsd}|jdg| kc jo|tpbgn }dmtpb|bd}'

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Osdpond &Bg @bhhbkg}"





MG@M Cdl ]tpsdr ” Jopmf ?3( 09?0Yond = kc 03


=' Ckp |fk}d pd}ykgldg|} ~fk pdyhbdl ‖Rd}‒ |k qtd}|bkg -?5 O|

~fbmf jdd|bgn kc |fd Cdldpoh Kydg Jopad| Mkjjb||dd lk

rkt |fbga |fd Cdl b} jk}| hbadhr |k oggktgmd o gd~ _Dypknpoj;

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Eogtopr 09?0

Jopmf

Oypbh

Etgd

Ethr

]dy|dj`dp

Km|k`dp

Ldmdj`dp 09?0

09?=

Eogtopr 0= ]tpsdr Jopmf ?3 ]tpsdr



MG@M Cdl ]tpsdr ” Jopmf ?3( 09?0Yond < kc 03


<' ̂ fbmf( bc ogr( kc |fd ckhhk~bgn ollb|bkgoh om|bkg} lk rkt|fbga |fd Cdl ~bhh |oad |k lpbsd lk~g hkgn*|dpj rbdhl};

Pd}ykgldg|} ~dpd o`hd |k }dhdm| jkpd |fog kgd pd}ykg}d( }k ydpmdg|ond} |k|oh jkpd |fog ?99$

K|fdp pd}ykg}d}5

Kydg jopad| kydpo|bkg}

_D `t| }|dpbhbudl

@tr J@] &0"

Yhdo}d( gk jkpd' Jksd O^OR cpkj |fd ypbg|bgn ypd}}'

\fd Cdl lkd} gk| ~og| |k lpbsd lk~g hkgn rbdhl} cpkj pdmdg|

hdsdh}'

04$

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49$

Dv|dgl.Kydpo|bkg

\~b}|.

`drkgl Etgd

Ytpmfo}dollb|bkgohhkgn*|dpj

}dmtpb|bd} `t|}|dpbhbud|fk}d

ytpmfo}d}

Pdltmd |fdbg|dpd}| po|d

yobl kg

dvmd}}pd}dpsd}

Gkgd K|fdp





4' Lk rkt dvydm| |fd Cdldpoh Pd}dpsd |k addy bg|dpd}|po|d} dvmdy|bkgohhr hk~ |fpktnf ho|d 09?<;

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49$

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Rd} Gk Lkg.| Agk~+Tg}tpd





3' Pdho|bsd |k mtppdg| ctglojdg|oh}( |fd Cdldpoh Pd}dpsd.}mfopom|dpbuo|bkg kc |fd dmkgkjr bg b|} ykhbmr }|o|djdg|

b}5

==$

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49$

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\kk yd}}bjb}|bm Et}| pbnf| \kk ky|bjb}|bm Lkg.|agk~+tg}tpd



MG@M Cdl ]tpsdr ” Jopmf ?3( 09?0Yond > kc 03


>' Bg rktp kybgbkg( fk~ lkd} |fd yt`hbmo|bkg kc CKJMjdj`dp}. bg|dpd}| po|d ckpdmo}|} occdm| |fd mhopb|r kc b|}

jkgd|opr ykhbmr;

02$

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09$

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Jkpd mhdop Hd}} mhdop Gk bjyom| \kk }kkg |k |dhh Lkg.|Agk~+Tg}tpd





6' ]fkthl |fd Cdl mfognd b|} ntblogmd ckp fk~ hkgn b| ~bhh

addy bg|dpd}| po|d} hk~ cpkj o mohdglop lo|d |kdmkgkjbm |opnd|}( }tmf o} bgcho|bkg( tgdjyhkrjdg|( kpgkjbgoh NLY;

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49$

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3$

9$

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09$

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49$

39$

>9$

Rd} Gk Lkg.| Agk~+Tg}tpd






2' &Ckp |fk}d ~fk og}~dpdl rd} |k qtd}|bkg 6"^fo| |opnd| kp |opnd|} }fkthl |fd Cdl t}d;

Pd}ykgldg|} ~dpd o`hd |k }dhdm| jkpd |fog kgd pd}ykg}d( }k ydpmdg|ond} |k|oh jkpd |fog ?99$

63$

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49$

39$

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69$

29$

?99$

Bgcho|bkg Tgdjyhkrjdg| Gkjbgoh NLY K|fdp




MG@M Cdl ]tpsdr ” Jopmf ?3( 09?0Yond ?9 kc 03


?9' Fk~ ~kthl rkt mfopom|dpbud |fd Cdl.} mtppdg|jkgd|opr ykhbmr;

<?$

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9$ ?9$ 09$ =9$ <9$ 49$ 39$

\kk ommkjjklo|bsd

Et}| pbnf|

\kk pd}|pbm|bsd

Lkg‒| agk~+Tg}tpd





MG@M Cdl ]tpsdr ” Jopmf ?3( 09?0Yond ?? kc 03


??' ̂ fdpd lk rkt dvydm| |fd ]#Y 499 }|kma bgldv ~bhh `d

kg ‣ ;

\fb} b} |fd }dmkgl }tpsdr bg ~fbmf ~d o}adl ckp o Ldmdj`dp =?( 09?0 ckpdmo}|'

?<0?

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Etgd =9( 09?0

Ldmdj`dp =?( 09?0

Ethr 09 ]tpsdr Otn ?? ]tpsdr ]dy| ?2 ]tpsdr

Km| =? ]tpsdr Eog 0= ]tpsdr Jopmf ?3 ]tpsdr





?0' ̂ fo| lk rkt dvydm| |fd rbdhl kg |fd ?9*rdop \pdo}tprgk|d ~bhh `d kg ‣ ;

\fb} b} |fd }dmkgl }tpsdr bg ~fbmf ~d o}adl ckp o Ldmdj`dp =?( 09?0 ckpdmo}|'

='>4$

0'22$

0'42$

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0'?2$

0'40$

0'=0$

0'42$

Etgd =9( 09?0

Ldmdj`dp =?( 09?0





MG@M Cdl ]tpsdr ” Jopmf ?3( 09?0Yond ?= kc 03


?=' ̂ fo| b} rktp ckpdmo}| ckp |fd rdop*ksdp*rdopydpmdg|ond mfognd bg pdoh T']' NLY;

\fb} b} |fd }dmkgl }tpsdr bg ~fbmf ~d o}adl ckp o 09?= ckpdmo}|'

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MG@M Cdl ]tpsdr ” Jopmf ?3( 09?0Yond ?< kc 03


?<' ̂ fdg lk rkt |fbga |fd CKJM ~bhh cbp}| bgmpdo}d |fd cdlctgl} po|d;

9$

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09?4 kp ho|dp

Lkg.| agk~+tg}tpd

Eog 0= ]tpsdr Jopmf ?3 ]tpsdr





?4' ̂ fdg lk rkt |fbga |fd Cdldpoh Pd}dpsd ~bhh joad b|}cbp}| yhoggdl ldmpdo}d bg |fd }bud kc b|} `ohogmd }fdd|;

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09?4 kp ho|dp

Lkg.| agk~+tg}tpd

Eogtopr 0= ]tpsdr Jopmf ?3 ]tpsdr





?3' ̂ fdpd lk rkt dvydm| |fd cdl ctgl} |opnd| po|d ~bhh `d

kg ‣ ;

\fb} b} |fd }dmkgl }tpsdr bg ~fbmf ~d o}adl ckp o Etgd =9( 09?= ckpdmo}|'

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Etgd =9

09?0

Ldm =?09?0

Etgd =909?=





MG@M Cdl ]tpsdr ” Jopmf ?3( 09?0Yond ?> kc 03


?>' Bg |fd gdv| ?0 jkg|f}( ~fo| ydpmdg| ypk`o`bhb|r lk rktyhomd kg |fd T']' dg|dpbgn pdmd}}bkg; &9$:Gk mfogmd

kc pdmd}}bkg( ?99$:Mdp|obg|r kc pdmd}}bkg"

9$

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09$

04$

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9$ ?9$ 09$ =9$ <9$ 49$ 39$ >9$ 69$ 29$ ?99$

Otn ?? ]tpsdr ]dy| ?2 ]tpsdr Km| =? ]tpsdr Eog 0= ]tpsdr Jopmf ?3 ]tpsdr

Osdpond Ypk`o`bhb|r kc Pdmd}}bkg

Otn ?? ]tpsdr5 =<'9$ ]dy| ?2 ]tpsdr5 =3'?$Km| =? ]tpsdr5 04'4$

Eog 0= ]tpsdr5 09'=$Jop ?3 ]tpsdr5 ?2'?$





?6' ̂ fo| b} rktp kt|hkka ckp |fd Dtpkydog Jkgd|opr Tgbkgcbsd rdop} cpkj gk~;

<0$

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9$

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Gk mktg|pbd} ~bhh `d dedm|dl kp hdosd

]kjd mktg|pbd} ~bhh `d dedm|dl kp hdosd

B| ~bhh `d hopndhr lb}}khsdl ogl jk}|Dtpkydog mktg|pbd} ~bhh fosd |fdbp k~g

mtppdgmr

Lkg.| agk~+tg}tpd

Ethr 0? ]tpsdr Km| =? ]tpsdr Eog 0= ]tpsdr Jopmf ?3 ]tpsdr





?2' ̂ fo| b} |fd ypk`o`bhb|r( bg rktp kybgbkg( |fo| domf kc |fd ckhhk~bgn mktg|pbd} ~bhh ldcoth| kg b|} ld`| bg |fd

gdv| |fpdd rdop}; &9$:Gk mfogmd kc ldcoth|(?99$:Mdp|obg|r kc ldcoth|"

Ndpjogr( Cpogmd( ogl Tgb|dl Abgnlkj ~dpd gk| bgmhtldl bg |fd Ethr 09 }tpsdr'Ckp Npddmd( pd}ykgldg|} |k |fd Jopmf ?3 }tpsdr ~dpd o}adl ckp |fd ypk`o`bhb|r kc o }dmkgl

ldcoth| `drkgl |fd Jopmf ‖mpdlb| dsdg|'‒

Ykp|tnoh Bpdhogl B|ohr Npddmd ]yobg Ndpjogr CpogmdTgb|dl

]|o|d}

Tgb|d

Abgnlk

Ethr 09 ]tpsdr 40$ <6$ 0<$ 6=$ 06$ <$

Otn ?? ]tpsdr <4$ =>$ 0=$ >9$ 04$ 0$ =$ 0$ 0$

]dy| ?2 ]tpsdr <?$ =<$ 0=$ 60$ 0<$ 0$ <$ ?$ 0$

Km| =? ]tpsdr <>$ ==$ 06$ 6<$ 03$ 0$ <$ 0$ =$

Eog 0= ]tpsdr <2$ ==$ 06$ 66$ =9$ 0$ 3$ ?$ 0$

Jopmf ?3 ]tpsdr 4=$ =?$ 04$ >0$ 02$ 0$ 4$ =$ =$

9$

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09$

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49$

39$

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69$

29$

?99$





09' ̂ fo| b} |fd }bgnhd `bnnd}| |fpdo| combgn |fd T']'dmkgkjbm pdmksdpr;

K|fdp pd}ykg}d}5

Ndkykhb|bmoh Pb}a} T']' Ypbso|d Ld`| Ldhdsdponbgn ^doa gkjbgoh npk~|f+pd}|pbm|bsd jkgd|opr ykhbmr "Cb}moh mhbcc" Dvmd}}bsd ld`| ]htnnb}f+gkgdvb}|dg| pdoh bgmkjd npk~|f

?>$

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9$ 4$ ?9$ ?4$ 09$ 04$ =9$ =4$ <

Dtpkydog pdmd}}bkg+cbgogmboh mpb}b}

\ov+pdntho|kpr ykhbmbd}

]hk~ ek` npk~|f

Fbnf no}khbgd ypbmd}

Ksdpohh bgcho|bkg

Lkg.| agk~+tg}tpd

K|fdp5



MG@M Cdl ]tpsdr ” Jopmf ?3( 09?0Yond 0? kc 03


0?' ̂ fo| b} |fd mfogmd |fo| fbnf kbh ypbmd} mot}d ogk|fdpT']' dmkgkjbm pdmd}}bkg; &9$:Gk mfogmd kc pdmd}}bkg(

?99$:Mdp|obg|r kc pdmd}}bkg"

9$

4$

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?4$

09$

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=4$

9$ ?9$ 09$ =9$ <9$ 49$ 39$ >9$ 69$ 29$ ?99$

Osdpond Ypk`o`bhb|r

Jop ?3 ]tpsdr5 0='6$





00' ̂ fo| b} rktp ypbjopr opdo kc bg|dpd}|;

Mkjjdg|}5

Ekfg Otnt}|bgd( Cbc|f \fbpl O}}d| Jogondjdg|5 Cdl gddl} |k }|op|

ckpjtho|bgn og dvb| yhog'

Hkt @pbdg( LP^ \polbgn Npkty5 @dhbdsd b| bc rkt gddl b|( bc rkt lkg.| et}|

yo}} b| kg' Y' Hd}f P' Ftg|dp

Pk`dp| @pt}mo( Com| ogl Kybgbkg Dmkgkjbm}5 Cdl ykhbmr b} gk| }k kt|*kc*

abh|dp gk~ `t| ~d opd kg og bjykp|og| mt}y' Fk~ ~bhh |fd Cdl t}d b|} gd~

fdolhbgd YMD bgcho|bkg .k`edm|bsd;. ^d opd o`kt| |k }dd fdolhbgd bgcho|bkg nk

jkpd pkntd |fog ]opof Yohbg( o} npk~|f nd|} jkpd }khbl' Fk~ lkd} |fd Cdl

nd| t} |k `dhbdsd b|} ykhbmbd} opd kg |poma bc b| mog.| ykbg| |k }|bhh }|o`hd mkpd

bgcho|bkg }bgmd |fd fdolhbgd b} gk~ |fd nkoh; B.j mkgct}dl o} |k fk~ o |opnd|

|fo| ~bhh `d `olhr jb}}dl bg |fd }fkp| ptg `dmkjd} t}dcth( d}ydmbohhr }bgmd b| b}

GK\ dsdg o ypbmd hdsdh mkjjb|jdg|' B |fbga |fo| |fd Cdl( ogl |fd jopad|}(

opd bg ckp }kjd pkmar |bjd}'

Losbl Nkdpu( Fbnfjopa Moyb|oh5 \fd Cdl.} mtppdg| jkgd|opr ykhbmr b}

tg}t}|obgo`hd `drkgl |fd T']' dhdm|bkg( ogl pb}a} tgldpjbgbgn b|} mpdlb`bhb|r

Dmkgkjbm}49$

Dqtb|bd}0<$

Cbvdl Bgmkjd>$

Mtppdgmbd}0$

K|fdp?>$



MG@M Cdl ]tpsdr ” Jopmf ?3( 09?0Yond 0= kc 03


|fpktnf b|} ykhbmr kc "bgmpdo}dl |pog}yopdgmr" nbsdg |fd }|pdgn|fdgbgn

lbsdpndgmd kc dmkgkjbm mkglb|bkg}' "Kt|yt| noy*dp}" opd hbadhr |k `d ksdpptg

`r "yponjo|bm sbnbhog|d} " o} pd`ktglbgn bgcho|bkgopr ckpmd}( fkt}bgn }|op|}(ogl djyhkrjdg| npk~|f }fkthl lpbsd ty bgcho|bkg dvydm|o|bkg} ogl `kgl

rbdhl}'

]|top| Fkccjog( YGM5 \fd }ypbgn+}tjjdp }htjy bg fkt}bgn( mkg}tjdp

}ydglbgn( ogl ek` npk~|f bg 09?9 ogl 09?? ~bhh GK\ `d pdydo|dl bg 09?0'

\fd |fbpl |bjd b} |fd mfopj//

Hdd Fk}abg}( Yombcbm Pd}dopmf Bg}|b|t|d5 @r mkg|bgtbgn |k ptg o gdno|bsd

pdoh bg|dpd}| ykhbmr |fd Cdl b} lb}|kp|bgn kgd kc |fd jk}| bjykp|og| ypbmd

}bngoh} bg og dmkgkjr' Pdypd}}bgn bg|dpd}| po|d} jb}ohhkmo|d} moyb|oh ogl |fdohhkmo|bkg kc nkkl} ksdp |bjd'

Ftnf Ekfg}kg( Ftnf Ekfg}kg Olsb}kp}5 \fd }bgnhd jk}| }t`}|og|boh

|fpdo| |fo| |fd T']' dmkgkjr comd} b} o }fbc| |k cb}moh pd}|pobg| bg 09?= `o}dl

tykg |fd yk}}b`hd dvybpo|bkg kc |ov pdltm|bkg} &@t}f |ov mt|}( pdltm|bkg bg

yorpkhh |ov mt| ogl pdltm|bkg} bg }ydglbgn &Jdlbmopd yorjdg|} |k yfr}bmbog}(

tgdjyhkrjdg| `dgdcb|}' O }fbc| |k~opl pd}|pobg|( }bjbhop |k }fbc|} bg ?2?9 ogl

?2=6( `dckpd |fd T']' dmkgkjr fo} cthhr pdmksdpdl cpkj |fd dvmd}}d} `tbh|

ltpbgn |fd fkt}bgn jogbo &099<*0993 ~kthl ̀ d o jb}|oad' Fkydcthhr( |fb}~bhh `d mhdophr pd}khsdl `r |fd |bjd kc |fd dhdm|bkg' \fd }dmkgl jk}|

}bngbcbmog| pb}a &oh|fktnf gk| o }bngbcbmog| pb}a o| |fb} hdsdh kc bg|dpd}| po|d} b}

o pb}d bg bgcho|bkg bg 09?= ogl }fbc| bg jkgd|opr ykhbmr |k~opl pd}|pobg|' Mhdophr

|fd Cdl tgldp}|ogl} |fb} pb}a ogl b} tghbadhr |k joad o }dpbkt} ykhbmr `htgldp'

B| b} gk| o| ohh tgt}toh ckp |fd cbgogmboh jopad|} ogl dmkgkjr |k `d combgn

|fd}d pb}a} ltpbgn |fd cktp|f ogl cbc|f rdop kc o `thh jopad|*dmkgkjbm

pdmksdpr' ^fo| pob}d} |fd pb}a} b} |fo| |fd T']' dmkgkjr b} }|bhh ~kpabgn

|fpktnf |fd dvmd}}d} `tbh| ltpbgn |fd }|ond kc fkt}bgn }ydmtho|bkg' \fo|

joad} b| bg|dpd}|bgn ogl bjykp|og|'

Ekfg Ao||op( Do}|dpg Bgsd}|jdg| Olsb}kp}5 Ckp o} hkgn o} |fd dmkgkjbm

lo|o b} bjypksbgn( }|kma} opd jksbgn fbnfdp( ogl k|fdp mdg|poh `oga} opd

do}r( |fd Cdl b} mkg|dg| |k }b|' @t| |fo| mkthl mfognd' B oj oh}k ~o|mfbgn |fd

lkhhop( ~fbmf fo} ̀ ddg }|pdgn|fdgbgn }bgmd ho}| Cohh' O| }kjd ykbg|( |fd Cdl

~bhh ydpmdbsd |fb} o} o |fpdo| |k |fd pdmksdpr'



MG@M Cdl ]tpsdr ” Jopmf ?3( 09?0Yond 0< kc 03


@oppr Agoyy( @opmhor} YHM5 \fd oyyopdg| tynpolbgn kc |fd ckpdmo}|

&dvydm|bgn jkldpo|d s} jkld}| npk~|f hk~dp} |fd ypkò`bhb|r kc _D= bg Oypbh

|k dccdm|bsdhr udpk' Etgd*]dy|dj`dp b} }|bhh o pdoh yk}}b`bhb|r bc |fd kt|hkka }hby}òma |k }t`*0$' Dgdpnr b} |fd jk}| hbadhr gdop |dpj mo|ohr}| ckp o

ld|dpbkpo|bkg bg |fd kt|hkka'

Losbl Ak|ka( Mtj`dphogl Olsb}kp}5 Kbh b} |fd `bnnd}| pb}a' Gbndpbo pb}a b}

fbnfdp |fog jopad|} dvydm|'

Ohog Apoh( \pdskp ]|d~op| @tp|kg # Eomk`}dg5 \fd Cdl ~bhh lk dsdpr|fbgn

|k pd*dhdm| bgmtj`dg|}'

]t`klf Atjop( ]t`klf Atjop # O}}kmbo|d}5 Gdv| mfohhdgnd b}ksdp}|o|bgn jo}}bsd qtog|b|o|bsd do}d( d}ydmbohhr bg |fd T']' ogl Dtpkyd( gk~

bg yhomd bg olsogmdl mktg|pbd} ogl jksd} |k do}d bg djdpnbgn joekp} hbad

@poubh( Mfbgo( ogl Bglbo lb}|kp|} pb}a*pd~opl |k ld|pbjdg| kc moyb|oh jopad|}'

^bhhboj Hopabg( Mo`k| Jkgdr Jogondjdg|5 \fd pdmdg| mfognd bg

}dg|bjdg| bg |fd `kgl jopad| fo} o }|pkgn yk}}b`bhb|r kc `dbgn |fd }|op| kc o

gd~ dpo ckp `kgl}' \fb} b} hbadhr |fd dgl kc |fd =*rdop "cdop |pold" |fo| lpksd

`kgl rbdhl} bg|k gdno|bsd |dppb|kpr &pdoh pd|tpg}' \fd ypk`hdj nkbgn ckp~opl

b} jogr `kgl bgsd}|kp} lk gk| |pthr tgldp}|ogl |fdbp pb}a}( d}ydmbohhr |fd

bgsd}|kp} ~fk opd dv|dglbgn bg|k hkgndp*lo|dl `kgl} &ltpo|bkg pb}a' O} `kgl

bglbmd} ndgdpo|d gdno|bsd pd|tpg} |fb} qtop|dp( |fd yk}b|bsd ctgl chk~} }fkthl

}|op| |k oò|d' \fd jbhhbkg*lkhhop qtd}|bkg b} ~fdpd( ~fdg( ogl |k ~fo| dv|dg|

~bhh |fb} gd~ jbgl}d| occdm| bg|dpd}|*}dg}b|bsd bgsd}|jdg|};

Ntr Hd@o}( Eoggdr Jkg|nkjdpr ]mk||5 ^d d}|bjo|d |fo| ckp domf

}t}|obgdl ,4 bgmpdo}d bg kbh ypbmd}( NLY npk~|f ldmhbgd} o`kt| 9'0$'

Lpd~ Jo|t}( T@] Bgsd}|jdg| Pd}dopmf5 ^d lk gk| `dhbdsd |fd CKJM ~bhh

tgldp|oad ctp|fdp _D o`}dg| o }bngbcbmog| ld|dpbkpo|bkg bg |fd dmkgkjbm

kt|hkka' Bc ctp|fdp _D ~dpd |k `dmkjd gdmd}}opr( kydpo|bkgoh hbjb|o|bkg}

~kthl ld|dpjbgd |fd }|ptm|tpd'

Pk` Jkpnog( Cthmptj ]dmtpb|bd}5 B.j }fkmadl |fo| }kjd jopad| ~o|mfdp}

opd }|bhh |ohabgn o`kt| ogk|fdp pktgl kc qtog|b|o|bsd do}bgn' \fpdd jkg|f} kc

ek` npk~|f ksdp 099a ek`} bglbmo|d} |k jd |fo| |fd `bn pb}a ckp |fd Cdl b}





cohhbgn `dfbgl |fd bgcho|bkg mtpsd' \fdpd b} gk ~or |fd Cdl ~bhh cthcbhh b|} yhdlnd

kc addybgn po|d} o| ypd}dg| hdsdh} tg|bh 09?<'

Mfol Jkpnoghogldp( ]|bcdh Gbmkhot} &^o}fbgn|kg Mpk}}bgn Olsb}kp}"5

\fd T']' dmkgkjr b} jksbgn bg |fd pbnf| lbpdm|bkg' O} ypbso|d `kppk~bgn

|pdgl} bjypksd( o }t}|obgo`hd dmkgkjbm pdmksdpr ~bhh |oad pkk|' ]|kma jopad|

sohto|bkg} oyydop o||pom|bsd' O| |fb} ykbg| bg |bjd( bgsd}|kp} }fkthl mkg|bgtd |k

yk}b|bkg ykp|ckhbk} |k~opl pb}a o}}d|}'

Ekdh Gopkcc( Gopkcc Dmkgkjbm Olsb}kp}5 \fd Cdl b} `dbgn mot|bkt} nbsdg ohh

|fd pb}a} kt| |fdpd( `t| kgmd Dtpkydog ldcoth| b}}td} ogl no}khbgd ypbmd fbad

mkgmdpg} opd jkldpo|dl( |fd Cdl ~bhh fosd |k mkg}bldp hbnf|dgbgn ty |fdbp

yd}}bjb}|bm sbd~'

Yfbh Kphoglk( Cdldpo|dl Bgsd}|kp}5 \fd ypd}bldg|boh dhdm|bkg bg Gksdj`dp

~bhh `d mpb|bmohhr bjykp|og|( |k dhdm| }|o|d}jdg ~fk ~bhh lk |fd pbnf| |fbgn ~b|f

pdnopl |k pdckpjbgn dg|b|hdjdg|} ogl |ov ykhbmr'

Hrgg Pdo}dp( Ykbg| Hkjo Gouopdgd Tgbsdp}b|r5 \fd dmkgkjr( }|kma}(

ogl jkgd|opr ykhbmr opd o| o mpb|bmoh etgm|tpd' \fd gdv| |~k |k |fpdd jkg|f}

~bhh }fk~ fk~ jtmf kbh ypbmd} ~bhh occdm| mkg}tjdp }ydglbgn( fk~ jtmf

~opjdp*|fog*t}toh ~do|fdp fo} bgcho|dl dmkgkjbm om|bsb|r( ogl ~fd|fdp pdoh

NLY npk~|f ~bhh }yddl ty |k mo|mf ty ~b|f ek` nobg} kp bc djyhkrjdg| npk~|f

~bhh }hk~ bg |ogldj ~b|f pdoh NLY'

Losbl Pd}hdp( Gkjtpo5 Pdmdg| lo|o opd ldmbldlhr mkg}|ptm|bsd( ogl |fdpd b}

gk~ o gkg*|pbsboh mfogmd |fo| |fd pdmksdpr bg djyhkrjdg| ~bhh `dmkjd o

|pog}ckpjo|bsd dsdg|( hdolbgn |k o }dhc*ydpyd|to|bgn pdmksdpr'

Ekfg Pk`dp|}( Fbhhbopl Hrkg}5 ^d mkg|bgtd |k ~kppr |fo| pb}bgn kbh ypbmd}(

fbnfdp bg|dpd}| po|d}( b}}td} bg Dtpkyd ogl ykhb|bmoh pfd|kpbm ~bhh `dnbg |k lpon

|fd jopad|} lk~g bg |fd gdop ct|tpd' \fd dv|pdjdhr fdosr bg}bldp }dhhbgn b}

oh}k ogk|fdp |pkt`hbgn lo|o ykbg|' O} }tmf( ~d og|bmbyo|d o ythh`oma bg |fd

jopad|} bg |fd gdop ct|tpd |fo| mkg|bgtd} |fpktnf |fd dhdm|bkg ckhhk~bgn |fd

pdmdg| |~k qtop|dp} &bgmhtlbgn |fd mtppdg| kgd kc lkt`hd*lbnb| jopad|

bgmpdo}d}'

Ekfg ]bhsbo( ^dhh} Copnk5 Dmkgkjbm pdmksdpr b} }t}|obgdl'




Foga ]jb|f( Fosdpckpl Bgsd}|jdg|}5 \fd Cdl gddl} o ̀ d||dp jbv kc cb}moh

ykhbmr * npk~|f kpbdg|dl |ov pdckpj ogl hd}} pdntho|bkg * bg kpldp |k `dnbg

}fbc|bgn |k~opl o jkpd gdt|poh ykhbmr' \fb}( bg o ~or( foyydgdl bg |fd dophr?269} ~fdg Pdonog.} npk~|f cb}moh ykhbmr ohhk~dl Skhmadp |k |bnf|dg |k abhh

bgcho|bkgopr dvydm|o|bkg}'

Pkl ]jr|f( Pbsdpcpkg| Bgsd}|jdg| Npkty5 ^d opd hbsbgn |fpktnf Ykhbmr

Ytpno|kpr ( kp og dgsbpkgjdg| ~fdg( k|fdp |fog mdg|poh òga}( cb}moh

ykhbmrjoadp}( d}ydmbohhr bg |fd T']'( opd |k|ohhr lbsbldl o} |k fk~ |k |omahd |fd

`bnnd}| dmkgkjbm b}}td combgn |fd ~kphl dmkgkjr5 tg}t}|obgo`hd ld`|' \fb}

fo} pd}th|dl bg mfdoy sohto|bkg} ckp pb}a o}}d|} }tmf o} }|kma} ogl hkt}r

ypk}ydm|bsd pd|tpg} cpkj }ocd o}}d|} hbad mo}f ogl `kgl}'

Lbogd ]~kga( Jd}bpk~ Cbgogmboh5 \fd adr mkgmdpg b} |fd fkt}bgn jopad|1

}|ptm|tpoh ypk`hdj} bg hdglbgn ogl |fd J@] jopad|( bg yop|bmthop( mkthl fbgldp

pdmksdpr( ogl mkg|bgtd |k jt|d |fd dccdm| jkgd|opr ykhbmr fo} kg dmkgkjbm

npk~|f'

Yd|dp \ogkt}( Hrgv Bgsd}|jdg| Olsb}kpr5 Npddmd ~bhh ldcbgb|dhr hdosd |fd

dtpk' \fdpd b} gk yk}}b`bhb|r kc pdmksdpr tgldp |fd ot}|dpb|r bjyk}dl kg

|fdj' \fd dtpk ~bhh pb}d ~fdg Npddmd hdosd}'

Jopa Sb|gdp( ^dhh} Copnk5 \fd `ktgmd òma bg rbdhl} }ddj} |k fosd nk||dg

og dv|po yt}f cpkj |fd ho|d}| òga }|pd}} |d}|' \fdpd b} hd}} ~kppr o`kt|

ogk|fdp gdop*|dpj mpdlb| dsdg| &db|fdp bg Dtpkyd kp |fd T]' Po|d} jor gk~

`dnbg |k pdchdm| dmkgkjbm ctglojdg|oh}' Bc }k( |fdr opd }|bhh ~or |kk hk~'

]mk|| ^pdg( ^dhh} Copnk Olsb}kp}5 \fpdd |fbgn} mkg|bgtd |k addy jd ty

o| gbnf|5 fkt}bgn( djyhkrjdg|( ogl |fd dtpk ukgd ld`| mpb}b}' Gkgd kc |fd}d

ypk`hdj} opd nkbgn o~or ogr|bjd }kkg' Ktp bjypksdl tgdjyhkrjdg| po|d

jo}a} tgldphrbgn }|ptm|tpoh ypk`hdj}' Fkjd ypbmd} opd fb||bgn gd~ yk}|*

`t``hd hk~} ogl |fd H\PK ogl Npdda pd}|ptm|tpbgn opd et}| ògl*oblbgn |fdypk`hdj} ckp gk~'

Mhopd Udjydh( Udjydh ]|po|dnbm5 \fd jopad| jkgd|opb}|}. sbd~} &]mk||

]tjgdp( d| oh opd |fd jk}| pdhdsog| ckp ykhbmrjoadp} ogl bgsd}|kp}'

CNBC Fed Survey Results: March 16, 2012

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Transcript of CNBC Fed Survey Results: March 16, 2012