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Bernanke’s First Full Day Is Groundhog Day: Will He See Greenspan’s Shadow?

On Wednesday, Bernanke was sworn in as the 14th Fed Chairman [1] so his first full day is…you guessed it…Groundhog Day [2]

According to legend, if Punxsutawney Phil sees his shadow, there will be six more weeks of winter weather. If he does not see his shadow, there will be an early spring.

translated really means

If Bernanke does not want to see Greenspan’s shadow, then he has got to keep the housing market in tact as a lynchpin to the overall health of the economy. If he is successful at implementing his inflation-targeting strategy, then he won’t see Greenspan’s shadow and the housing market would likely see a soft-landing.

Source: AP

After all, Bernanke’s got much better credentials then Punxsutawney Phil.

[Webmaster’s apology: Sorry, it was a late night post.]