|
COPYRIGHT 2006 Voxant, Inc.
Original Source: CNBC/DOW JONES BUSINESS VIDEO ANALYST INTERVIEW
MARIA BARTIROMO, CNBC ANCHOR: Talk about a rally on Wall Street, the major indexes soaring on today`s Fed news. But even with the session`s gains today, it is still unclear how many more hikes the market may face. Today`s Fed statement indicating that additional hikes may dependant on both inflation and economic growth. For a closer look now at the Fed, I`m joined by Tony Dwyer. He`s an equity market strategist with FTN Midwest Securities. And from Chicago, Jim Bianco, president of Bianco Research; along with Brian Wesbury, chief economist at First Trust Advisors.
Gentlemen, nice to have you all with us; welcome to the program.
TONY DWYER, EQUITY MARKET STRATEGIST, FTN MIDWEST SECURITIES: Great to be here, Maria.
BARTIROMO: Tony, you know, it`s interesting that we had this commentary out of the Fed that it`s data depended, that the strength in the economy may mean more hikes and yet, the market rallies. What`s that all about?
DWYER: A few weeks ago, Fed Chair Bernanke came out on the tape and he said that we know core inflation is a lagging indicator. And we -- and the Fed must also watch asset prices. So what they`ve watched over the course of the last couple of months, two, three months, is housing starts. New single-family housing starts have gone negative on a year-over-year basis. That typically happens either in a mid-cycle slowdown, dramatic slowdown or a recession.
And in as...
Read the full article for free courtesy of your local library.
|
Bookmark this article
Print this article
Link to this article
Email this article
Digg It!
Add to del.icio.us
RSS
