— This is the script of CNBC's news report for China's CCTV on January 28, Wednesday.
WALL STREET STILL SEES 2015 AS THE MOMENTOUS YEAR WHEN THE FEDERAL RESERVE HIKES INTEREST RATES FOR THE FIRST TIME IN 9 YEARS.
BUT THE LATEST CNBC FED SURVEY SHOWS WALL STREET PUSHING THOSE EXPECTATIONS AHEAD TO THE POINT WHERE IT'S RUNING OUT OF YEAR IN WHICH TO HIKE.
THE SURVEY SHOWED THAT ON AVERAGE RESPONDENTS SEE THE FED NOTCHING THAT FIRST RATE HIKE IN SEPTEMBER, COMPARED WITH JULY IN THE PRIOR SURVEY.
AND FORECASTS FOR THE FED'S BENCHMARK INTEREST RATE, WHICH UNDERPINS RATES THAT CONSUMER ULTIMATELY PAY, HAVE COME DOWN TO JUST 7 TENTHS OF A BASIS FOR THE END OF THE YEAR
[Ian Winer / Director of Equity Trading, Wedbush Securities] "The Fed is in a real conundrum now. The dollar keeps strengthening, it's clearly impacting all our multinationals. And it's going to be very difficult for them to raise rates at all this year."
THE FED CONCLUDES ITS TWO-DAY JANUARY MEETING TODAY AND LITTLE CHANGE IS EXPECTED IN THE ALL-IMPORTANT POLICY STATEMENT. THE FED SHOULD SAY IT REMAINS "PATIENT" BEFORE RAISING INTEREST RATES, WHICH FED CHAIR JANET YELLEN HAS SAID MEANS AT LEAST TWO MEETINGS BEFORE HIKING RATES.
THE FED FACES NOT ONLY GLOBAL UNCERTAINTY BUT ALSO DECLINING INFLATION, SPURRED BY LOWER OIL PRICES AND WEAK OVERSEAS GROWTH, ALONG WITH NO HINT OF WAGE GAINS. WHILE SOME ARE STICKING TO THEIR PRIOR CALLS THAT THE FED WILL HIKE IN THE SUMMER, THEY STILL BELIEVE THE FED WILL MOVE VERY CAUTIOUSLY ONCE IT STARTS RAISING RATES.
[Mohamed El-Erian / Chief Economic Adviser, Allianz] "I think it is facing this uncertainty between a healing US economy and a weakening global economy. And let's not forget also the geopolitical factors. I still think they'll hike during the summer. They'll go very slowly."
WHAT'S CLEAR IS THAT THE MAJORITY OF THE FED HAD A PLAN TO RAISE RATES THIS YEAR AND THAT COULD STILL HAPPEN. BUT THE DATA THAT WOULD SUPPORT THAT HIKE --- STABLE TO RISING INFLATION AND RISING WAGES --- IS SO FAR FAILING TO COOPERATE.
CNBC'S QIAN CHEN, REPORTING FROM SINGAPORE
ADAM BAKHTIAR SPENCER OGDEN PKG
Water cooler " talk is starting to become a thing of the past as corporate offices ditch the coolers for something....well...
....cooler. Hip workplaces are increasingly becoming more important to corporate culture as companies look for ways to boost morale and recruit talent.
But do things like foosball tables, basketball hoops and crazy golf really help increase productivity? We're at recruitment firm Spencer Ogden, one of Singapore's hippest offices, to find out.
This brand new office comes complete with an astroturf floor, an American style diner and bikes, scooters and foosball & tennis tables, that staff can play with at any time. With locations around the world,Spencer Ogden says it's seen a 30 percent increase in office productivity since launching this office concept.
[Tom Reid / Country Manager (Singapore), Spencer Ogden] "The productivity is increasing, we can see that in the daily metrics and the activity we get on a monthly and annual basis, its a shift from cubical environment where consultants can walk around and be free. They choose to work longer, they choose to be more active subconsiously, but actually you see the efficiency go up on a daily basis, from a management side as well."
"And I gotta ask this because all of this look's really fun, Ican see the activity in the back, but human nature is like that,there are always going to be people who abuse the perks that comewith the job. Are you seeing that at all in your company."
[Tom Reid / Country Manager (Singapore), Spencer Ogden] "Not yet. People want to work, they kind of realize that youcan't play ping pong all day. It is an office where you need to getwork done, and some find a balance between spending time on thephoneand playing ping pong at the same time. I mean I couldn't doit but those that can do. Most respect the fact that during thehours of working time we need to work, but get up and freshen legsand thinking by being active for a little bit throughout theday."
"So this theme you have going on in Singapore you have in all other offices as well around the world, tell us whats most popular among staff in terms of the activity."
[Tom Reid / Country Manager (Singapore), Spencer Ogden] "I think the grass is one of the most creative elements, having the putting green, golf balls around. Is something that doesn't distract you too much. You can do very easily, get up and kind of look at the grass, it brightens your thinking a little bit. It changes the way you perceive in the office, just having the green floor, so for me i think the grass has the biggest impact. But getting up riding the bike, playing table tennis or football all have an impact on a small scale."
It's an office that encourages teamwork and collectivity. In fact, every time an employee makes a sale, the entire office celebrates.
And to think, I thought working in a TV studio was fun. Adam Bakhtiar, CNBC.
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