Terry McGraw, chairman of Business Roundtable, told CNBC that CEOs aren’t worried about the economy falling into a recession, though the group's latest survey shows executives have lowered their economic outlook.
“I think the Fed has done a terrific job in terms of bringing the economy down in a more accommodating way,” said McGraw, who is also chairman and CEO of The McGraw-Hill. “I think Fed Chairman (Ben) Bernanke’s comments todaywere right on. He’s less concerned about inflation at this point, although it’s on his watch. He’s watching employment numbers and overall growth. I don’t think there’s any need for a rate reduction at this point or a rate increase.”