Posted on 08/31/2007 5:57:39 AM PDT by NaturalGorilla
Fed Chairman Ben Bernanke speaks at 10 a.m. Eastern Time from Jackson Hole, Wyoming.
President Bush speaks at 11:10 a.m. Eastern Time from the White House on the mortgage crisis.
Two events that have the potential to hammer the markets. During his tenure, anytime W has given an economic speech, the markets have usually tanked.
Hopefully neither says anything dumb to mess up what is shaping up to be a real good day for the markets. Ben could really send the markets south if he hints he is too reluctant to cut rates. Bush’s plan to help curb mortgage defaults and stimulate lending will be a nice boost if Ben comes through.
Bush's remarks can only help, it is Ben that worries me. Ben appears to be pulling every string possible to avoid lowering the rate. That is what scares me. Ben has to maintain his position that it the top priority to fix our financial/housing problem. If Ben indicates a fear of inflation, watch out the market is gonna tank.
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