" "Greenspan says Fed to keep raising interest rates"

[GreenPartyVoter]

WASHINGTON (Reuters) - Alan Greenspan, in one of his last appearances before Congress as Federal Reserve chairman, told lawmakers on Wednesday the U.S. growth outlook was solid and the Fed will keep lifting interest rates.

But he warned "significant uncertainties" confront this positive prospect, including high energy prices, labor costs, the future path of long-term interest rates and the danger this could spell for the country's housing market.

"Our baseline outlook for the U.S. economy is one of sustained economic growth and contained inflation pressures," he told the House of Representatives Financial Services Committee in the first of two days of semiannual testimony on the economy and monetary policy.

"In our view, realizing this outcome will require the Federal Reserve to continue to remove monetary accommodation. This generally favorable outlook, however, is attended by some significant uncertainties that warrant careful scrutiny."

http://money.iwon.com/ht/nw/bus/20050720/hl_bus-n20111350.html?PG=home&SEC=news

[MercutioATC]

1. The market seems happy with it...

...so I'm happy with it.

(my entire 401k is in stocks right now)

[GreenPartyVoter]

2. Stocks took a dip.. but I guess they will even out

NEW YORK (Reuters) - U.S. stocks fell slightly on Wednesday after Federal Reserve Chairman Alan Greenspan signaled more interest-rate rises and a mixed bag of earnings, but losses were capped by a drop of more than $1 in oil prices.

http://money.iwon.com/jsp/nw/nwdt_rt.jsp?section=news&feed=bus&src=202&news_id=bus-n20452362&date=20050720

[MercutioATC]

4. A little one, but that was from early earnings reports.

After the Fed announcement, they actually recovered a bit.

The DJIA is +7 now.

[candy]

3. It's good for savers---I'm a saver,not a borrower.

[GreenPartyVoter]

6. Yeah. Savings? Never heard of it.

[gratuitous]

5. Translation: Chimpy doesn't have to face re-election

So it's time to pay the piper for the binge we've been on for the last five years. During the next three years, we'll figure out how to blame the Democrats.