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The only thing that is scary is the "almost"....
Greenie will cause some major gyrations if he does go 25 more in June.
If he goes 50, it's "lights-out".....1987 here we come (again)......sigma
deviation maximus.
A week after that, we'd be reading in the news:
"Alan Greenspan was discovered dead last night of an apparent attempted
suicide. The Clinton/Gore administration has no comment at this time other
than to say it was a 'tragedy' and that a new chairman will be appointed
soon."
> -----Original Message-----
> From: Dennis Holverstott [mailto:dennis@xxxxxxxxxx]
> Sent: Tuesday, June 20, 2000 1:13 PM
> To: Omega List
> Subject: Re: Prediction
>
>
> > Greenspan has his own agenda. The markets are discounting what
> think might
> > happen, but do they know what is truly in his soul? His
> favorite pastime is
> > solving differential equations. Figuring him out is a challenge.
>
> Not really. The fed fund futures have an almost perfect record of
> predicting fed actions. One fed official even admitted they look at the
> futures and, if they don't want to upset the markets, they do what the
> futures are saying. Last time the futures said 50 basis points and sure
> enough... Last time I checked, they were saying no increase this time.
>
> --
> Dennis
>
>
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