"Frank Ketchum" wrote in message
k.net...

"todd" wrote in message
news

Of course Greenspan can't singlehandedly fix the economy, but you can't
really know what you're talking about and say that he doesn't have a
significant influence over it. I suppose you know that things wouldn't
be
worse if the Federal Funds rate hadn't been lowered. I think
Greenspan's
biggest mistake at the end of 1999 and into 2000 was putting the brakes
on
too hard.

todd

todd


todd todd,

Are you saying that Greenspan caused the predicament we are in? I don't
believe this to be the case.

Frank

I'm saying that having a restrictive monetary policy with what the economy
was doing at the time was, at least in hindsight, detrimental to the
economy. We had the economy (as measured by real GDP) going essentially
sideways to down from 2000Q2 through 2001Q3. Instead of easing monetary
policy, the Fed kept the discount rate at the highest level since 1991 all
the way through the last half of 2000.

todd