Dec 15, 2007

Alan Greenspan on the Fed

This is a much tougher monetary-policy environment than anything I experienced.

The notion of core pricing is fading in importance as: One, food prices driven by increased long-term demand for meat and milk rise with the growth of China and other developing countries, and as; Two, global oil supply peaks lower and sooner than had been contemplated earlier.

~ Alan Greenspan, former Federal Reserve Chairman , "How Inflation Hobbles the Fed," The Wall Street Journal, December 15, 2007

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