On Wednesday, [Bernanke was sworn in as the 14th Fed Chairman](http://futures.fxstreet.com/Futures/news/afx/singleNew.asp?menu=latestnews&pv_noticia=1138811235-f05e0f08-32901) so his first full day is…you guessed it…[Groundhog Day](http://www.groundhog.org/)

>According to legend, if Punxsutawney Phil sees his
shadow, there will be six more weeks of winter
weather. If he does not see his shadow, there will be
an early spring.

translated really means

>If Bernanke does not want to see Greenspan’s shadow, then
he has got to keep the housing market in tact as a lynchpin to the
overall health of the economy. If he is successful at
implementing his inflation-targeting strategy, then he won’t see
Greenspan’s shadow and the housing market would likely see a soft-landing.

Source: AP

After all, Bernanke’s got much better credentials then Punxsutawney Phil.

[Webmaster’s apology: Sorry, it was a late night post.]

One Comment

  1. Randall Wilson February 2, 2006 at 2:03 am

    Well it is day one of a new era of FED policy. Not much happened today, but new policy and new FED disclosures that Bernake is promising will undoubtably have a significant effect on the US economy.


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