Greenspan may retire in January 06′
The Federal Reserve decided to shorten a key monetary policymaking meeting in late January in what amounts to an acknowledgment by the secretive institution that Chairman Alan Greenspan is leaving then.
The Fed said in a terse announcement Friday that the discussions of the Fed’s interest-rate setting panel would take place on Jan. 31 only, rather than during a two-day time frame of Jan. 31-Feb. 1. The idea would be that the meeting would not overlap the departure of Greenspan the arrival of his successor.
“This change avoids a meeting that spans the terms of two chairmen,” the central bank said, confirming that Jan. 31 likely would be Greenspan’s last day.
The three names mentioned most often as possible Greenspan successors are Ben Bernanke, who took over as chairman of the president’s Council of Economic Advisers this year after having served as a Fed board member; Columbia University professor Glenn Hubbard, Bush’s first CEA chairman, and Harvard economics professor Martin Feldstein, who was CEA chairman during the Reagan administration.
The brief announcement represented the most direct confirmation yet by the Fed that Greenspan, who has served 18 years at the head of the central bank, will be leaving at the end of January. There was little doubt of that as Greenspan attended a recent Fed meeting in Wyoming.
I think Greenspan has done a great job in his role as Fed Chairman. I wonder who will take his place when he does leave.
September 9, 2005 - 02:37 PM on September 9th, 2005
just wait until the chaos really gets moving, you will all love it so much you will think the the hurricane that hit new orleans was fun, the system is about to become one big cesspool and you will be right in it.
oh yes, will greenspan be moving to israel soon?:wink:
September 9, 2005 - 02:42 PM on September 9th, 2005
Fred- what does that mean?
September 9, 2005 - 02:48 PM on September 9th, 2005
2- I think he means, “BUY GOLD NOW!” Your paper US currency isn’t going to be worth crap.
September 9, 2005 - 09:22 PM on September 9th, 2005
1. Fred, it’s odd (to the point of pretension) that much of your language lately suggests that everybody but you is in for tough times ahead.
September 9, 2005 - 09:30 PM on September 9th, 2005
3. tofu cheers whe destruction of our country. Finacial or otherwise… Hey, us conservative red staters are the RKBA aka 2nd Amendment folks? Right? If the US did go to complete shit, who would defend the libs? themselves? No way! They will be demanding the GOVT does it for them. That is why independent minded folk would survive and the dependent would flounder in the vomit of their own nervous breakdowns.
September 9, 2005 - 09:33 PM on September 9th, 2005
I have mixed emotions about the guy. Lately, he seems hell-bent on hiking up rates without waiting to see how these high gas prices are contributing to slow spending. Now we have higher prices at the pump, and higher prices for borrowing money.
The Fed did the same thing back in 2000 when they kept raising rates, we hit a recession, and they were caught flat-flooted and behind the curve.
On the other hand, gotta hand it to him for calling out the “irrational exuberance” before the .com bubble burst.
September 9, 2005 - 09:37 PM on September 9th, 2005
True Sasha. But he did decide to hold off on any more rate changes for the time being. I will say one thing, he isn’t raising them as quick as he dropped them.:grin:
September 9, 2005 - 09:37 PM on September 9th, 2005
Sasha and Fred…. I use to understand economics well at one point in time at college,,, then I got my grade and gladly forgot it. DEEP STUFF there.
September 9, 2005 - 09:59 PM on September 9th, 2005
I’m in the game, John. If I didn’t learn it in college, I picked it up quickly reading the quarterlies.
September 9, 2005 - 10:47 PM on September 9th, 2005
7: For those who opened a home equity line of credit and maxed it because the rate was so low, it’s going up plenty fast!
September 9, 2005 - 10:50 PM on September 9th, 2005
10- Ouch. I forgot about that.
September 11, 2005 - 03:55 PM on September 11th, 2005
BUT REMEMBER I AM NOTHING BUT A ANTHROPOID SO YOU CAN’T PUT ME IN PRISON YET OR CAN YOU?
ops:
September 11, 2005 - 08:03 PM on September 11th, 2005
Fred, more important than gold. A few pistols, shotguns, M-4, M-14, and a couple of AKs. You and your friends would weather any storm much better than the average bear.
September 14, 2005 - 11:02 PM on September 14th, 2005
Fred, please tell me you didn’t load on surplus MREs, 500 pounds of dried beans and 5 barrels of water and went underground in last months of 1999.
September 14, 2005 - 11:29 PM on September 14th, 2005
14- I’m thinking he did Sasha! I really think he did:shock:
September 15, 2005 - 07:57 AM on September 15th, 2005
14,15, don’t forget the 10,000 rounds of ammunition for his weapons.
September 15, 2005 - 09:15 AM on September 15th, 2005
17: How could I have forgotten that?!
The Michigan Militia was on standby New Years eve.:grin:
September 15, 2005 - 09:20 AM on September 15th, 2005
17, They are still around? I thought they had disbanded after McVey and the other goomer.
September 15, 2005 - 10:01 AM on September 15th, 2005
No, still a paramilitary outfit, so they still exist in one form or another. Anyone can lay claim to the name.