--part of the piece In some ways, Bernanke is a victim of circumstance. The U.S. economy is in transition because of uncertainties in the housing and energy markets. With the Fed's leadership also in transition, the markets now have to forecast the near-term direction of the economy and interpret the musings of a new Fed chairman at the same time. This double duty is frustrating the markets, resulting in drastic day-to-day movements. Rather than accept the tasks of interpreting and forecasting, the markets simply blamed the new Fed chief for their woes. Granted, Bernanke had a few missteps early on -- most notably, Mariagate -- but no irreversible calamities. Even Greenspan uttered a couple of doozies after he inherited the throne from Paul A. Volcker in 1987, and he endeavored to greatness.
<http://tinyurl.com/n8tc9> Stephen Russell DBA / Operations Developer Memphis TN 38115 901.246-0159 http://spaces.msn.com/members/srussell/ -- No virus found in this outgoing message. Checked by AVG Free Edition. Version: 7.1.394 / Virus Database: 268.9.2/370 - Release Date: 6/20/2006 _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
