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More Interest-Rate Increases Are Ahead, Greenspan Signals

Contributed by mm | June 9, 2005 9:45 AM PST





Different Fed officials are giving out different signals. It is fair to say that we are in a strange economic setting now.

From Wall Street Journal:

Federal Reserve Chairman Alan Greenspan signaled Thursday the U.S. central bank isn't finished with its campaign of interest-rate increases, saying the U.S. economy is on a "reasonably firm footing" and businesses' pricing power appears to be growing.

Testifying before Congress's Joint Economic Committee, Mr. Greenspan said recent economic data aren't "presaging a more-serious slowdown in the pace of activity." Although inflation remains "contained," he said, corporate profits are suggesting "increased pricing power." Accordingly, he said, the Fed aims to continue raising interest rates in small increments.
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