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Little Bang From Bullish Comments by Fed Chairman

Contributed by mm | June 12, 2005 6:25 AM PST





Again, it seems that Mr. Greenspan's strategy is not to deal with the bubble itself, but to mitigate the impact of the bubble.

From New York Times:

Alan Greenspan, the chairman of the Federal Reserve, said this week that the economy was on a "reasonably firm footing" and argued that even a decline in housing prices would not have a substantial impact on the economy.

But the stock market did not get much of a boost when Mr. Greenspan testified before Congress on Thursday. The market's three main gauges were little changed yesterday, leaving the market with minimal gains for the week.

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