Chart of the Day Federal Reserve Chairman Ben Bernanke recently stated that moderation in economic growth “should help to limit inflation pressures over time.” To get a sense of where the economy is heading, today's chart presents the ECRI leading index. The index is a composite of seven indicators chosen for their ability to signal both the beginning and the end of economic recessions. A downturn in the index of leading economic indicators has preceded the beginning of a recession by about 10 months; an upturn in the index has preceded the end of a recession by an average of 3 months. Where do we stand now? The index peaked nearly three months ago and continues to drift lower which suggests that the overall economy is likely to moderate over the near term. Stay tuned...
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Source - ECRI
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Quote of the Day "The value of an education ... is not the learning of many facts but the training of the mind to think something that cannot be learned from textbooks." - Albert Einstein
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August 17, 2006 - PGA Championship begins (ends August 20th)
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