More Clownspeak (aka "don't worry, be happy"):
<<LEWISTON, Maine, Sept 12 (Reuters) - Federal Reserve Bank of Boston President Cathy Minehan said on Tuesday the prospects for the giant U.S. economy for the remainder of 2000 were solid despite slower consumer spending.
Minehan, speaking on the "Economy and Education" at the Maine Development Foundation Annual Conference, said rising energy prices had not yet pushed hard on core inflation but there was more of a risk this would happen than not.
"Risks here are certainly on the upside," said Minehan, a nonvoting member of the Fed.
She said the other major dark cloud on the horizon was the yawning external U.S. deficit.
"It is true that this deficit, reflecting as it does the lack of sufficient domestic savings and investment, has the potential to destabilise the current rosy picture," she said, adding that any destabilisation "would take some time to play out."
Minehan said although labour markets were tight -- noting the unemployment rate was at 30-year lows -- businesses were using technology instead of hard-to-find workers, increasing rates of productivity growth and competitiveness.>>
So what does that make this week, 3 New Era speeches and 1 cautionary speech? Note also that it is at least the second time the trade defecit was mentioned, interesting. Preliminary CYA?
Regarding Chase, isn't that the same Chase with a large VC arm? Wonder how many of their VC dollars end up on that f'edcompany site? So let's see, derivatives on top of derivatives with a side-order of dot.com malinvestment - sounds like a recipe for disaster to me. |
