Tuesday, November 28, 2006

Bernanke Comments Cause Market to Dip

The market sold off on comments from Bernanke just now. I thought the comments were constructive, but the market is still looking for a reason to sell off further.

Here is a summary of his comments:
  • Further Fed action dependant on inflation outlook
  • Q4 GDP growth likely in-line with Q2, Q3
  • Econ. slowdown reflects cooler housing
  • Slow home construction pace likely to be drag next year
  • US core inflation remains "uncomfortably high", but likely to moderate
  • Most other parts of economy growing solidly


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