THE new Federal Reserve chairman Ben Bernanke made a mess in his first few months. Whenever he speaks about US monetary policy, the US equity markets go into a tailspin. In such uncertain times, investors must surely be missing the reassuring wisdom of predecessor Alan Greenspan.
Anyway, the damage to investors’ confidence is already done. As each day passes by, the US economy is showing more and more signs of a slowdown and possibly heading into a recession by 2007. The latest employment data for July showed a weakening US economy.
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