Percent of NABE Panelists Who Perceive Monetary Policy to Be About Right
The Graph of the Week comes from the March 2008 NABE Policy Survey and shows the response to the question "Do you consider current monetary policy to be: Too stimulative, Too Restrictive, About Right?"
From the survey:
NABE members indicate growing unease over the direction of monetary policy. The percent of respondents judging monetary policy to be “about right” dropped to 48% in March from 72% in August, while those calling policy “too stimulative” more than tripled to 34%. Two-thirds of those surveyed expect short-term interest rates to decline over the next six months, with about half of those respondents expecting a cut of between 26 and 50 basis points. The most frequently cited concerns about lower interest rates are the threat of inflation and the sense that lower rates might “bail out investors who should have known better.”
Read the full survey here.