Fed's Bernanke Thinks He Knows More Than 97% of Company Executives

"Interests rates are low enough for investments to be made. However, near and mid term economic conditions do not allow for these decisions to be executed at this time."

3. Economic uncertainty and stricter regulatory climate.

"We need a better economic and regulatory climate. A decrease in interest rates is not what we need."

"Interest rates already at historic lows. It's not high interest rates that are holding us back, but uncertainty about federal policies and loss of financial wealth of our customers."

"Too much economic uncertainty -- want to be able to respond should the fiscal cliff scenario occur in the U.S."

"It is not interest rates but ROI and uncertainty."

Summary

It is amazing to me that all of the focus is on interest rates -- when these rates are at a 50-year low.

In order to make substantial progress on job creation, we need economic growth. The key to economic growth is capital investment. In a separate part of the survey, CFOs indicate a level of capital investment over the next 12 months that is insufficient to make a dent in the unemployment rate, currently at higher than 8%.

Even if QE3 is successful in lowering rates, the policy will fail to spur capital investment. While the Fed will spend $85 billion a month, the CFOs say they will have nothing to show for it.