1. IS ALAN GREENSPAN IMPOTENT?
- Author
-
Wright, R.
- Subjects
ECONOMIC policy ,UNITED States economy ,INTEREST rates ,RATE of return - Abstract
The article questions the leadership ability of U.S. Federal Reserve Board chairman Alan Greenspan. He was perceived to be the dominant force in economic policy-making. An article in the February 21, 1990 issue of the "New York Times" reported that Greenspan had said that the U.S. economy's slide may have ended. The same day after such remarks, interest rates soared. But the paper's business section did not attribute the incident to Greenspan. Bond dealers blamed concern that rising interest rates overseas would increase the cost of borrowing in the U.S. One reason for believing that the Federal power has diminished is the free flow of money across national borders, seeking the highest rate of return.
- Published
- 1990