Go to Jeff Salisbury LWGate Home Page.From: "Mona Guarino" <webmaster@design21.com>
Subject: [CANSLIM] Market -- Greenspan testimony
Date: Wed, 17 Apr 2002 14:12:57 -0700
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Testimony of Chairman Alan Greenspan Monetary policy and the economic outlook Before the Joint Economic Committee, U.S. Congress April 17, 2002 can be found at: www.federalreserve.gov/BoardDocs/Testimony/2002/20020417/ Interesting to me that he: -- said little has changed from the Mar FOMC meeting -- weighed in on homebuilders indicating it's NOT a speculative bubble -- sees no reason with current level of inflation to do anything until there is solid recovery underway -- thinks Japan IS now turning around -- taked about the recovery as being like a 2-phase rocket where inventories being reduced and then repleneshed being the 1st phase and hiring being the second; now need to change monetary policy until after 2nd phase has fired So, sound like no rate hike at the next meeting and that we are further in the pre-recovery phase than when last he spoke. By Greenspan-speak standards, seemed more straight-foward than usual. Anyway, this is my take on what I heard. Interested to hear anyone else's thoughts. - -- Mona - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email.
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