Do You Consider Monetary Policy to be About Right?
The Graph of the Week comes from the August 2008 NABE Policy Survey, and asks "Do you consider current monetary policy to be: Too restrictive, too stimulative, or about right?" From the survey:
A majority of NABE members indicated support with the direction of monetary policy, but uncertainty about what the next steps would be. The percent of respondents judging monetary policy to be “about right” increased to 55% from 48% in March, while those calling policy “too stimulative” was about the same at 35%. Some 47% of those surveyed expect short-term interest rates to increase over the next six months, with exactly the same percentage anticipating no change. Of those forecasting a rate increase, the majority expected a rise of between 26 and 50 basis points.
The entire survey is available to the public.