January 12, 2012
Is Greenspan "Pretty Terrific" Today?
The Fed released transcripts of eight Federal Open Market Committee Meetings for 2006 (there is a five-year lag in releasing them), and the Wall St. Journal has some excerpts. Here is a funny one:
JAN. 31: Alan Greenspan is chief for the last time during the meeting of the Fed’s decision-making body. Fed officials spend much of their time praising him. “I’d like the record to show that I think you’re pretty terrific, too,” says Timothy Geithner. “And thinking in terms of probabilities, I think the risk that we decide in the future that you’re even better than we think is higher than the alternative.”
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