Stephen Slifer Greenspan Quotations

Greenspan is trying to be cautious by tapping the brakes ever so lightly, which I think will mean another quarter-point increase soon. This thing has so much momentum that, even though we've raised the speed limit, we're still going a little too fast.

The problem is not what's going on now; things are wonderful -- it's what could potentially happen in the future that the Fed and Greenspan are protecting us from. The economy is chugging along at a pace that's really exceeding the speed limit and that could cause some damage in the long run.

It's important to stress that we do have some very good things going on in this economy, which Greenspan reiterated yesterday. What we should be thinking about is that this is a move that's designed to be a little bit preemptive to make sure that this rapid growth does not start resulting in higher inflation.