Alan Greenspan Quote du Jour

By Paul Kedrosky · Sunday, September 23, 2007 ·
From the Financial Times, a fairly remarkable concession from ex- Fed chair Alan Greenspan:
`The presumption that we were fully independent and have full discretion was false,'' Greenspan said in an interview published by the newspaper on Sept. 16. Raising rates faster and sooner would not have been acceptable ``to the political establishment,'' Greenspan said.
[FT via Bloomberg]
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