Anthony Chan Admit Quotations

Although the current growth environment is not impressive, positive growth is still positive growth. On the darker side of things, however, we must admit that the economy still lacks the growth momentum needed to correct many of the labor market ailments.

Yes, Greenspan does admit the obvious, that the real federal funds rate has risen considerably, but he quickly concludes that the rate 'remains fairly low'. This is Fed-speak for the notion that the Fed will continue to raise rates by a quarter percentage point...as far as the eye can see.