Edited by redfoliage2, 28 March 2007 - 01:00 PM.
Don't Fight the Fed
Started by
redfoliage2
, Mar 28 2007 12:51 PM
2 replies to this topic
#1
redfoliage2
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Posted 28 March 2007 - 12:51 PM
Federal Reserve Chairman Ben Bernanke told Congress on Wednesday he doesn't believe the economy will slip into a recession and rejected the notion raised by his predecessor, Alan Greenspan, that the economic expansion, which started in late 2001, could be running out of steam.
"I would make a point, there seems to be a sense that expansions die of old age. ...I don't think the evidence supports that," Bernanke said in testimony to Congress' Joint Economic Committee....." He already knew the GDP number out tomorrow.
With this indra day reversal, I see market just done with a little correction.
#2
Cirrus
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Posted 28 March 2007 - 02:33 PM
I would rather see Ben say he's worried about a recession and economic weakness. Again, I think they'll speak loudly (yell hawkishly) and carry a tiny stick (act dovishly).
#3
pdx5
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I want return OF my money more than return ON my money
Posted 28 March 2007 - 11:47 PM
I would rather see Ben say he's worried about a recession and economic weakness. Again, I think they'll speak loudly (yell hawkishly) and carry a tiny stick (act dovishly).
Cirrus is exactly right. Only if a threat of recession looms ahead then FED will
reduce interest rates and markets will advance.
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule
