Monetary Policy Is About Right:

The panelists give the Federal Reserve a strong vote of confidence, with 65% saying monetary policy is about right, up from 59% a year ago. Only 5% feel monetary policy is too tight. Looking ahead, most respondents (48%) believe monetary policy should tighten over the next six months, down from 66% in March, with 42% saying it should remain unchanged. Almost all (90%) think short-term interest rates will increase, with respondents leaning toward a 0.5 percentage point increase over the next six months

NABE Panelists Views on Monetary Policy
(Percent reporting)

	Current monetary policy is:
Survey Date	Too restrictive	About Right	Too Stimulative
Sept 2005	5	65	30
Mar 2005	3	63	33
August 2004	4	59	36
March 2004	3	70	28
August 2003	9	68	23
March 2003	8	81	9
August 2002	8	77	12
March 2002	3	78	17
August 2001	17	67	11
March 2001	34	56	7
August 2000	9	76	12
February 2000	5	62	32
August 1999	3	74	22
March 1999	2	75	23
October 1998	7	82	11
May 1998	2	76	22
February 1998	8	86	6
November 1997	4	83	7
August 1997	6	85	7
May 1997	12	74	14
February 1997	7	83	10
November 1996	14	77	8

Survey Summary
Greatest Short-term Risk to US Economy
Greatest Long-term Challenges to US Economy
Strengths in the US Economy
Monetary Policy
Fiscal Policy
Detailed Answer File
Print Version of Report