Monday, July 18, 2005

Greenspan is Scheduled to Talk this Week

I hope he says something about the housing bubble. My guess is that he will specifically mention the bubble in a continuing effort to deflate it slowly, but also at the same time, try not to scare corporations from making more investments.

[WASHINGTON (Reuters) - Federal Reserve Chairman Alan Greenspan, in probably his last semi-annual testimony to Congress this week, will paint an upbeat picture of growth but drop no hint the Fed is ready to pause raising interest rates.

Greenspan, due to retire on Jan. 31 2006, will address Congress on Wednesday and Thursday. He may also air his views over the country's rampant housing market and the "conundrum" of low, long-bond yields.

But the performance will be most closely watched for clues of whether the U.S. central bank is weighing an end to its yearlong policy tightening campaign.]



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