“The sudden increase in capital investments would create jobs and encourage economic growth, which would then make it possible to weather the interest rate hikes the Fed would inevitably adopt to keep inflation from getting out of hand.
That’s the theory, but not many companies are buying it. I talked to a few chief executives to see what they thought.
“I do not think these decisions will meaningfully impact growth,” said James Hackett, CEO of Anadarko Petroleum Corp. “The problem is not monetary uncertainty, but rather fiscal uncertainty. Businesses invest when the rules of the road are clear, fair and consistent. Recent U.S. legislation has been neither.”” Read more.
“Fed’s Move Doesn’t Impress Top CEO’s”
Houston Chronicle, November 27, 2010.
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