Friday, September 09, 2005

FOMC Meeting Change

Looks like Fed Head Greenspan will be out on January 31, 2006. A just released statement from the FEd indicated that the two day FOMC meeting scheduled for Jan 31 and Feb 1 had been reduced to only Jan 31.

Pressure will be on the Bush administration to find a replacement. But as I indicated earlier in the year ( ) this will cause angst in the market. This was reiterated with our May 26th blog entry.

Add the anxiety of a new Fed Head to higher oil prices, increased deficit spending due to Katrina, growing trade/budget deficits, a housing bubble about to burst and rate rises by the Fed and the stock market is heading lower....much lower....

Good Riddance To Greenspan!

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