Alan greenspan briefcase indicator forex

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Emancipation proclamation I did start with a bit of a softball question, but one I knew the audience would have asked, too. He gave us a big smile and said it was very "liberating," especially his ability to speak more openly than before. And that set the stage for his answers yet to come. Haves vs. But, if politicians would just put aside their partisan leanings, it would take policymakers only "15 minutes" to come up with a solution for Social Security, and 10 of those minutes would be "spent exchanging pleasantries," he joked to great laughter and head-nodding.

Calling the fiscal policy on Medicare "irresponsible," Greenspan explained that although we know the number of recipients for benefits, we have no clue as to the average payment amount. He expressed fear that the U.

Economic white elephant? I did get the sense that he was back-pedaling a bit from his well-quoted view recently that housing may have hit bottom. In his well-crafted reply, he suggested, "This is not the bottom, but the worst is behind us. He replied that those "flaky" exotic mortgages, which allowed consumers to purchase homes more expensive than they could afford, will be financially devastating for those families holding them, but will have little impact on the macro economy.

Greenspan called exotic derivatives, and their hedge fund architects, "pollinating bees" and "extraordinarily important" to a complex global economy, since their high rates of return help stabilize the entire economic system and offset our meager savings rate. Instead, he described economic decision-making as relatively straightforward. Greenspan disputed such criticism, saying the recent housing boom resulted not from Fed cuts of short-term rates, but rather from global financial conditions that lowered long-term rates worldwide.

The long and short of it As you can see in the two charts below, there were numerous short-rate cycles over which Greenspan presided, including the major downturn in rates prompted by the recession, the gradual tightening brought on by the s economic boom, the swift retreat unleashed by the post-bubble bear market earlier this decade, and finally the removal of much of that ease during his last months in office. As of October 31, But short-rates are only part of the story as can be seen in the chart below, which shows the more consistently downward sloping line of longer-term interest rates.

As of November 10, What we all really wanted to know! While he was Chairman, the media often scrutinized the size of his briefcase for clues as to whether the Fed would raise or lower interest rates. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions.

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