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After the Surprise Rate Cut: Are CEOs Happy Now?
Posted By:Greg Levine
Topics:Interest Rates | Inflation | Ben Bernanke | Employment | Consumers | Federal Reserve | Federal Budget (U.S.) | Economy (Global) | Economy (U.S.)
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Chief executives were the among the loudest voices calling for the Federal Reserve to cut interest rates. Now, after the Fed's surprisingly sharp reduction in rates on Tuesday, CNBC asked several CEOs if they're happy.
Riding the Fed Funds Rally
The Fed's actions on interest rates triggered a global stock rally that's still surging. David Doll, CEO at Kanaly Trust Company, shares his insight with CNBC's Melissa Francis and Bob Pisani.
Hovnanian: It's A Start
Ara Hovnanian, president and CEO of homebuilder Hovnanian Enterprises, says the rate cuts "clearly help the psychology" of the U.S. economy -- but he says the Fed should do even more.
AutoNation Revved
Mike Jackson, chairman and CEO of AutoNation, had warned "Squawk Box" viewers on Aug. 29 that a recession was looming. Today, he tells CNBC that the threat is gone, thanks to Fed Chairman Ben Bernanke's "absolute masterstroke."
Darden Sees Hungrier Consumers
Clarence Otis, CEO of Darden Restaurants, praises a "data-driven" Fed, whose "wonderful" actions will embolden a "cautious consumer" to get out there and spend. With CNBC's Carl Quintanilla.
© 2008 CNBC.com
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