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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: CalculatedRisk who wrote (35865)	7/21/2005 12:37:07 AM
From: mishedlo	Read Replies (1) \| Respond to of 306849

My guess is Greenspan wants to accomplish a couple of things in his last 6 months. First, he wants to get the FED Funds rate to neutral (around 4.25%). We have had four years of emergency rates and he wants to show the economy can stand on its own without monetary stimulus. Second, even though the FED doesn't target asset prices, they are aware of the housing bubble. I think Greenspan would like to have a "soft landing" with housing prices stable. Phooey What he wants is to escape with his ass intact so he can blame the afttermath on someone else after he is gone Mish