On Wednesday, Bernanke was sworn in as the 14th Fed Chairman so his first full day is…you guessed it…Groundhog Day
According to legend, if Punxsutawney Phil sees his shadow, there will be six more weeks of winter weather. If he does not see his shadow, there will be an early spring.
translated really means
If Bernanke does not want to see Greenspan’s shadow, then he has got to keep the housing market in tact as a lynchpin to the overall health of the economy. If he is successful at implementing his inflation-targeting strategy, then he won’t see Greenspan’s shadow and the housing market would likely see a soft-landing.
After all, Bernanke’s got much better credentials then Punxsutawney Phil.
[Webmaster’s apology: Sorry, it was a late night post.]
Tags: Alan Greenspan, Ben Bernanke
Well it is day one of a new era of FED policy. Not much happened today, but new policy and new FED disclosures that Bernake is promising will undoubtably have a significant effect on the US economy.