Does He “Get It?”
February 20th, 2005 by 
InLibrisLibertas
One minor encouragement from his Congressional testimony was Greenspan’s repeated theme that actual savings and the associated investment were needed to provide the goods and services for future retirees. Perhaps he realises that by putting interest rates unrealistically low he has favored borrowers (and consumption) over savers, and so suppressed the savings needed? And that, as the architect of the most recent reform of Social Security, he has a “legacy” to preserve?
Posted in The Fed | 