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To: ild who wrote (62773)	6/5/2006 2:29:51 PM
From: sciAticA errAticA	Respond to of 110194

re: Bernanke ... attempting to emulate the financially "... porcine (by nature) old man" who previously soiled the Fed sty. "... These core readings "are unwelcome developments," he said."Therefore, the FOMC will be vigilant to ensure that the recent pattern of elevated monthly core inflation readings is not sustained..." ... sounds like it's time, once again, to "revise" how the CPI is calculated (down).

To: ild who wrote (62773)	6/5/2006 2:39:04 PM
From: stockfiend	Read Replies (1) \| Respond to of 110194

Just watched Bernanke read the text. Very, very hawkish in tone. This speech represents a palpable departure from the balanced portrayal of the growth/inflation risks in previous Fed speeches. Time will tell if this is just more jawboning.

To: ild who wrote (62773)	6/5/2006 2:40:10 PM
From: CalculatedRisk	Read Replies (1) \| Respond to of 110194

ROFLOL. Did you catch the last line of the story? In case they fix it ... (Just an error, but funny) marketwatch.com WASHINGTON (MarketWatch) - Although the anticipated slowdown in growth is underway, financial markets should not question the inflation-fighting credentials of the Federal Reserve, Fed chief Ben Bernanke said Monday. "There is a strong consensus" among FOMC members to keep inflation low, Bernanke told an international banking forum here. Recent core inflation readings "have been higher in recent months" and "has reached a level that, if sustained, would be at or above the upper end of the range that many economists, including myself, would consider consistent with price stability and the promotion of maximum long-run growth," Bernanke said. These core readings "are unwelcome developments," he said."Therefore, the FOMC will be vigilant to ensure that the recent pattern of elevated monthly core inflation readings is not sustained," Bernanke said. Bernanke said the slow down in the U.S. economy is no longer simply a forecast. "Real domestic product grew rapidly in the first quarter of this year, but the anticipated moderation of economic growth seems now to be under way," Greenspan said.