The entire Political Establishment sits back while Alan Greenspan lectures the nation on the need to not only subdue economic growth, but also to rein in the stock market. There is nothing that empowers the Fed to both manage our national economy and
regulate the values of equities. This is not just a question of a quarter point on the federal funds rate. We are talking about the Fed assuming powers placed by the Constitution in the hands of the people and their elected representatives.
Source: Press Release on Greenspan’s Jackson Hole remarks
Aug 23, 1999
Greenspan should lower interest rates, and should retire
There is no sign of inflation, yet Mr. Greenspan threatens even higher interest rates later this year, where instead he should be ending the commodity deflation he has induced. As much as I appreciate the job he has done in keeping inflation under
control, I believe he has in the last few years strayed further & further from his authority. [He] demonstrates the need for term limits for Fed chairmen. Mr. Greenspan [should not] be deified with a 4th term. He should consider taking early retirement.
Source: Press Release on Greenspan’s Jackson Hole remarks
Aug 23, 1999
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