Word is Bond

Friday, July 22, 2005


Federal Reserve Chairman Alan Greenspan made his semi-annual pilgrimage to Capitol Hill last week, and it may have been his last. The mandarin of monetary policy is scheduled to retire in January. True to form, the media saw plenty of thunderous implications in the chairman's remarks. As Bob first observed in 2001, there's hardly a question about the economy for which, in the media at least, Alan Greenspan isn't the answer.

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