The Pressures of Inflation

Leave it to Greenspan to find a way to take a half-step toward dropping the "measured pace" language without doing the dirty deed completely. As you probably already know, Greenspan & Co. took the next best step by saying that "pressures on inflation have picked up recently." You think so Alan? Welcome to the party my friend!

As an astute observer of the obvious, Greenspan's acumen is about a sharp as butter knife as he continues to play CYOB (cover your own butt), when dealing with the economy. And, as we can see by the reaction so far, the market is starting to loose its patience with him. What they wanted to hear is that inflation remains under control, but I guess since it is no longer election season, he'll have to take the middle road. Buckle up, folks, it is going to be a very interesting final hour.