While Greenspan did not hint that such would be delivered at the June 29-30 Fed policy meeting, he chose language that could well be inserted into the policy statement for that meeting, paving the way for a half-point hike at the August 10 or subsequent meetings.
More Quotes from Tony Crescenzi:
Greenspan usually refrains from saying anything market moving ahead of speeches before Congress,Tony Crescenzi
There is a revival in global growth now underway that is lifting the U.S. manufacturing sector and hence, commodity prices and wages.
Tony Crescenzi
The Fed has been very, very clear, and that's going to keep the market under pressure.
Tony Crescenzi
Treasury yields look headed to 5 percent by the May 10 (Federal Open Market Committee) meeting and possibly 5.25 percent by the June 29th.
Tony Crescenzi
The new rumor now since the meeting, since they did not act, is that the Fed could conduct an inter-meeting rate change, ... This is something they haven't done since April 1994, but people feel if the payroll report is strong and it's accompanied by a high wage gain, the Fed might move as early as tomorrow.
Tony Crescenzi
The Fed has put the market's attention more intensely on the jobs situation again.
Tony Crescenzi
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