Brian Sack Pay Quotations

The most provocative interpretation (of this change) is that market participants anticipated that the Committee was going to become more democratic once Greenspan departed, and hence began to pay more attention to the comments by other FOMC members.

The most provocative interpretation is that market participants anticipated that the committee was going to become more democratic once Greenspan departed, and hence began to pay more attention to the comments by other FOMC members.