Stockman Scott's Political Debate Porch Message Board

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Politics : Stockman Scott's Political Debate Porch

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To: Jim Willie CB who wrote (10579)	12/17/2002 4:09:55 PM
From: stockman_scott	Read Replies (1) of 89467

Recent Greenspeak Comments... In questioning after his formal testimony before Congress, Greenspan upped the anti-deflation ante, dismissing the notion that the Fed would become impotent, perchance the Fed funds rate hit zero. Specifically, he said: "There is an implication in the notion (of fighting deflation risks) that we are restricted solely to overnight funds. But our history as an institution indicates that there have been innumerable occasions when we have moved out from short-term assets and invested in long-term Treasuries. We do have capability, if required to do so, to go well beyond activities related to short-term rates."

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