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June 18, 2006
A Tale of Three Federal Reserve Chairs
The following table gives the tale of the starting economic tape for the last three Federal Reserve chairs. Note that the Dow column is how the market performed during the 12 months leading up to the incoming chair:Fed Governor | Start Date | GDP growth | Inflation | Unemployment | Dow |
Paul Volcker | Aug. 6/79 | 3.2% | 13.3% | 5.8% | -1.2% |
Alan Greenspan | Aug. 11/87 | 3.4% | 4.4% | 6.2% | 50.0% |
Ben Bernanke | Feb. 1/06 | 5.3% | 4.3% | 4.8% | 3.8% |
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Sadly, no punch line, other than I thought it was interesting how good, other than Dow performance, Bernanke has it compared to his recent predecessors.
You think Bernanke has it good? What about all the bubbles floating around?
Isn't taking over after a year of 5% GDP growth w/ 4% inflation a bit like succeeding Michael Dell? Or succeeding Jimmy Johnson after the Cowboys won several super bowls in a row?
Volcker had it good...
Either way inflation is always there.Expect the dow Bernake rulez
Maybe I'm just lazy, but what's the punchline here?
These numbers and size of sample are likely less statiscally relevant than the connection between the occurence of prime number US Open winning scores (in relation to par) and the following Monday's Dow direction...