[CANSLIM] Market -- Greenspan testimony

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


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