Cramer: "'Measured' Fed Comforts the Market"
Enviado: 4/5/2004 20:22"'Measured' Fed Comforts the Market"
By James J. Cramer
RealMoney Columnist
5/4/2004 2:37 PM EDT
"Measured. That means, "We won't rip your lungs out when we tighten." If you own stocks, that means slow, steady tightening, which is fine -- provided that we don't get a blowout employment number. If we get one, I think the Fed will seem silly being "measured."
Measured means "comfort." Some of us wanted to see something sooner than "measured" would indicate, because we think that the economy is stronger than people think.
My take: I still believe the Fed is behind the curve. I still think the Fed is not doing things right. But I would say we are in a position where, if the employment is just fine, "measured" will do the job.
I just want to get the job over with. Can't get the bull back while we are waiting for the Fed to be vigilant.
Can you be measured and vigilant at the same time?
The stock market seems to be saying yes, for today. "
(in www.realmoney.com)
By James J. Cramer
RealMoney Columnist
5/4/2004 2:37 PM EDT
"Measured. That means, "We won't rip your lungs out when we tighten." If you own stocks, that means slow, steady tightening, which is fine -- provided that we don't get a blowout employment number. If we get one, I think the Fed will seem silly being "measured."
Measured means "comfort." Some of us wanted to see something sooner than "measured" would indicate, because we think that the economy is stronger than people think.
My take: I still believe the Fed is behind the curve. I still think the Fed is not doing things right. But I would say we are in a position where, if the employment is just fine, "measured" will do the job.
I just want to get the job over with. Can't get the bull back while we are waiting for the Fed to be vigilant.
Can you be measured and vigilant at the same time?
The stock market seems to be saying yes, for today. "
(in www.realmoney.com)