- Job Cuts Fall to Lowest in Nearly 2 Years: Challenger
- Wal-Mart Targets Video Games with Latest Price Cuts
- 'Black Swan' Shuns Public Life Because of Bernanke
- Look Ahead: Markets Count Down to US Jobs Report
- Dubai World To Meet with Creditors Next Week
- Obama to Send More Troops; Seeks Afghanistan Exit
- GM Removes CEO Henderson; Whitacre Is Interim Chief
- UK Economy Turned, Inflation to Spike: BoE Economist
- Who Were the Biggest Winners And Losers This Year?
- Treasury Assistance Comes at High Price For GM
- Unemployment to Peak at 10.5%: Moody's Economist
- 8 Stocks to Gain on Obama's Afghan Plan: Analysts
- BofA On Proposed Changes In The Housing Bailout Program
- The Future of The Media Landscape
- November Auto Sales Muddle Along
- Busch: What Obama Won't Say Tonight
- Stick with Equities—Avoid Emerging Markets: Laszlo Birinyi
- Pfizer Chomps On A Carrot
MOST SHARED
- Kohlberg Kravis Bidding for Morgan Stanley's CICC Stake
- Cisco Has 84% of Tandberg, Won't Extend Bid
- Case Closed but Woods Scrutiny Continues
- UK Economy Turned, Inflation to Spike: BoE Economist
- Keeping America Great
- Australia Regulator Opposes Caltex-Exxon Deal
- GE, Comcast Complete Deal Over NBC Universal: Source
- Toyota Takes Lead Position in Canada in November
Text Size 
By an overwhelming 96% majority, the Wall Street money managers, investment strategists and economists responding to a CNBC Trillion Dollar Snap Survey today, say the Federal Reserve "did the right thing" when it lowered the discount rate this morning.
There is more disagreement, however, on two other key questions:
Have we seen the bottom of the stock market correction?
Yes 55%
No 45%
Will the Federal Reserve cut its Federal Funds target interest rate at or before its September meeting?
Yes 46%
No 54%
We also asked for predictions about where the Fed Funds rate will be six months from now. Compared to the results from just after the previous Fed meeting earlier this month, those answering our snap survey now have much greater expectations for a Fed Funds rate cut, with almost half predicting the central bank's target will be a half-point lower six months from now.
| Response | Today | August 7 |
| 4.00% or less | 2% | 0% |
| 4.25% | 6% | 2% |
| 4.50% | 10% | 3% |
| 4.75% | 49% | 15% |
| 5.00% | 16% | 29% |
| 5.25% (the current level) | 16% | 46% |
| 5.50% | 0% | 3% |
| 5.75% | 0% | 0% |
| 6.00% or higher | 0% | 2% |
These survey results represent the opinions of 50 of Wall Street’s top money managers, investment strategists and professional economists.
They responded to CNBC’s invitation to participate in our online survey. Their responses were collected today, Friday, August 17 between 10am ET and 1:30pm ET. Participants were told their answers would be reported only in the aggregate unless CNBC requested and received permission to publicly reveal specific responses. Participants were not required to answer every question.
This is not intended to be a scientific poll and its results should not be extrapolated beyond those who did accept our invitation.
Print
Email
- Will the Fed raise rates? Will the dollar continue its slide? CNBC experts weigh in on the year ahead.
- CNBC’s Larry Kudlow offers Tiger Woods some advice on dealing with tabloid scrutiny.
- Goldman Sachs has forbidden employees from gathering in private holiday parties of 12 or more.
- Dictionary.com says that of all words searched for in 2009, a synonym for greed was the top gainer.
- Heavily armed pirates in Somalia have set up a sort of stock exhange to fund their hijackings.
- Since its launch in 1998, Google has become a primary force on the Internet. How much do you know about the company?
Data is a real-time snapshot *Data is delayed at least 15 minutes