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Greenspan's Re-Nomination
Title: Greenspan's Re-Nomination
Category: Business & Economy / Economics
Details: Words: 1429 | Pages: 6.1 (approximately 235 words/page)
Greenspan's Re-Nomination
When Alan Greenspan presented the Federal Reserve's semi-annual report on monetary policy to the Subcommittee on Domestic and International Monetary Policy, the Committee on Banking and Financial Services, and the U.S. House of Representatives on February, Dr. Greenspan touted a cautionary yet favorable view of the U.S. economy. He states that 'With inflationary pressures apparently receding, the previous degree of restraint in monetary policy was no longer deemed necessary, and the FOMC consequently implemented a small reduction in reserve market pressures last July.' (…showed first 85 words of 1429 total…
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…showed last 85 words of 1429 total…that he raised rates even though the Presidential election was just around the corner in 1988; Greenspan was only in the 2nd year of his 4 year term, so there wasn't any substantial political pressure, he still had about 3 years left of his term.
At any rate, I believe that the Fed had a very successful year of monetary policy. The stock market soared, inflation and unemployment are both at respectable levels, so I just hope the Fed keeps it up, and President Clinton re-appoints Alan Greenspan.
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