Where will the new most powerful man in the universe stop?
I say 6.5% before a 6 month pause. Seriously. They got a long long way to go. They're already too far behind. And Big Ben has to show who's in charge.
The risk exists that, with aggregate demand exhibiting considerable momentum, output could overshoot its sustainable path, leading ultimately -- in the absence of countervailing monetary policy action -- to further upward pressure on inflation," Bernanke said in remarks prepared for delivery to the U.S. House of Representatives Financial Services Committee.
Presenting the Feds semiannual policy report to Congress, Bernanke said recent economic data, including booming January retail sales, "suggests that the economic expansion remains on track" after a strong 2005.
But he said high energy prices and the possibility of a slowdown in the U.S. housing market after a long boom were potential risks.
February 15, 2006
5%? 6%? 7%? Predict the top of this cycle
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Ben Bernanke did really well in his talks. He looked a little spooked at times but his manner was reassuring that he was considering all the options his pauses assured me that he was considering an appropriate response, even telling one Rep. he wanted more time to think about something.
Anyways, I predict 5%, 5.5% worst case. The economy isn't overheating and we need it to stay stong to overcome the drag the housing market is becoming.
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