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Alan Greenspan

The hardest job.

Being a Federal Reserve Governor can’t be very much fun.  In the past three years there have been several “firsts”
and a number of admissions of ignorance:
•    Twelve Discount Rate cuts in a row with no improvement in the economy.
•    Fourteen consecutive unchanged risk statements (weakness) from December 2001 to January 2002.
•… Continue reading

Just ask Mr. Greenspan

In Wednesday’s speech to the House Committee on Finance, Alan Greenspan opined, “With price inflation already at a low level, substantial further disinflation would be an unwelcome development, especially to the extent it put pressure on profit margins and impeded the revival of business spending.”   Why couldn’t he just say, “Strong deflation will damage the economy.”  Maybe he… Continue reading