I agree....in fact, it might be beneficial for him to say: " look, RE is in a bad state right now and will continue to worsen over the next six months to a year but unless i see wide spread inflation, don;t count on a rate cut to bail out the housing market" I think a lot of idiots will get off the hi horse quicker and will hasten the bottom for the market....although....i don't owe on my RE investment so im a little callous
it would make life easier wouldn't it... of course things will just get worse, then he'll FINALLY say it when it does happen...by then things will be teetering on the edge as is, and the speech will tip it over.
It isn't that he said nothing. Its that everyone heard the part they wanted to hear and disregarded the rest.
second that. This board is full of suckers who think that Fed is here to offset their trading incompetence. In fact I think that was the best speech I remember in the past several years - he could not be any clearer.
It was FUCKING amazing when one of the panel members, an older guy, was pretty much trying to pry Ben into saying that he'd cut interest rates. This idiot kept lining up hypothetical situations and saying "But you're saying that now you're more open to cutting interest rates right?" and "If inflation weren't a worry and the housing market did spill over, then you'd be open to maybe cutting rates" as if he were egged on to get Ben to finally capitulate and admit something. Fucker probably went long the indexes and wanted to get a pop out of them or something...it was ridiculous...anyone else notice that?