The Black Box

[Chris McConnel]

Greenspan has not even started changing the language from the meetings yet, and that will have to happen first. All reports indicate he will not make the same mistakes he made in the early 90s. He will probably want to telegraph his moves to the market, long before the hikes. No surprises to tip us back into recession.

Plus, raising rates will be much more difficult then it was in the early 90s. There are a ton of interest rate swaps right now, and no one knows what affect raising rates will have on these.