The Fed really tried to throw some cold water on those who are saying the recession's over already. The optimists are declaring it over already ... I think there's a good chance they're wrong, and the Fed obviously is predicating policy on the basis that they are wrong.
While Alan Greenspan may have enjoyed more than his share of good luck during his storied tenure as Fed chairman, he was also confronted with a wide variety of challenges that required subtlety, a deft touch and good judgment.