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And so this is Fed day ...
Apologies to John Lennon fans, but the song just fits the monetary mood.
December 13, 2005: 8:45 AM EST

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NEW YORK ( - And so it is Fed day, and Alan Greenspan, Christmas and John Lennon are dancing in my head....

And so it is Fed day

And what will they do?

12 rate hikes in place now

Number thirteen comes, too.

And so this is Fed day

Greenspan's second to last

If he wants to change things

He better act fast.


And so it is Fed day

Will "measured pace" disappear?

And the Fed watch data closely

In the coming new year?


It's an interesting Fed day

Bernanke waits in the wings

Wondering are we in "neutral"

On interest rates and things.

So enjoy this fine Fed day

Don't raise rates too much

Or the economy in 2006

Will need a new crutch.


A very happy Fed day

May the markets move higher

And give Mr. G a hand now

As he prepares to retire.


Kathleen Hays is economics correspondent for CNN. Read more of her poetic columns here.  Top of page

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