Que De Stimulus Trois?
I guess when you control the S&P 500 with your words and live large like a Gangsta Rapper, you need to have press conferences to explain all the double speak from the quarterly pow-wows with your wizard buddies, so the common folk and the lepers know which commodity index funds to buy.
That or you just think you are that special and want more face time to ensure a killer Fox News TV deal when you can't run the printing presses anymore.
Either way, I think this story is ridiculous:
Bernanke to Hold Press Conferences 4 times a Year for Skeptical Public
Federal Reserve Chairman Ben S. Bernanke will hold press conferences after policy meetings four times per year in one of his biggest efforts to improve the central bank’s connections with a skeptical public.
“The introduction of regular press briefings is intended to further enhance the clarity and timeliness of the Federal Reserve’s monetary policy communication,” the central bank said in its statement. “The Federal Reserve will continue to review its communications practices in the interest of ensuring accountability and increasing public understanding.”Is it only me that thinks Bernanke has gone Hollywood? Essentially this gives the Feds four more times a year to stir the pot and rile the markets.
Maybe instead of pimping his ability to raise the S&P he will give us recommendations on stocks to buy in the wake of the next stimulus package: "Thanks for your time-- and by the way, a strong position on GDX is recommended going forward-- We plan on really killing the dollar this month and the international uprising from the cost increases for food and energy should really help gold prices surge."
The meetings this year will be held on April 27th, June 22nd and Nov 2nd.
That June 22nd meeting should be perfect timing to announce Que De Stimulus Trois.
In November: "Sorry for the $7 gas-- If you would have listened to us in April and bought GDX you could have trippled your investment and gas prices wouldn't be an issue."
Don't fight the Fed... Especially not if he takes the Two and 1/2 Men spot on prime time!