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Politics : Formerly About Advanced Micro Devices
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To: bentway who wrote (362805)12/14/2007 1:22:37 PM
From: tejek  Read Replies (1) of 1578269
 
Greenspan's remarks come just days after the Federal Reserve, under Chairman Ben Bernanke, sliced a key interest rate for a third time this year to prevent the housing and credit troubles from sinking the economy.

The situation poses the biggest challenge yet to Bernanke since succeeding Greenspan in February 2006.

Some analysts have questioned whether Bernanke waited too long to cut the Fed's key rate and whether he has acted aggressively enough to soothe the economy's woes. The Fed initially dropped its key rate in September, the first reduction in four years. That was followed up by additional rate cuts in late October and then again on Tuesday.

Greenspan's pronouncements about the economy are for Bernanke's ears. He is telling Bernanke to get his butt in gear. Bernanke is quickly losing the respect of many economists and wall street investors.
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