Word: feds
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Every once in a while I, Mr. Computer Guy, get fed up with the darn things. Forget about dot pitch, 3D rendering, UltraDMA and other wacky acronymns apparently established to create an industry of technical interpretation. Occasionally, the melee of swiftly changing standards and products, with their accompanying problems is too much for a tech fiend to bear. Sometimes, I just want to get work done...
...sure, Greenspan would never say that--or anything else so explicit. He once quipped that on taking over the Fed in 1987, he learned "to mumble with great incoherence." Nor does he buy the wildest new-economy talk. He dismisses as "less than credible" any idea that "we need no longer be concerned about the risk that inflation can rise again." Greenspan is on guard, a renowned numbers cruncher who keeps tabs on the most obscure corners of the economy. Robin Leigh-Pemberton, former governor of the Bank of England, once remarked that at conferences Greenspan was likely to back...
Ever cautious, Greenspan warned in October that labor markets were tightening at an "unsustainable" pace. And he has never recanted his belief that the Fed should tighten credit mildly at the first signs of renewed inflation. But for now the Asian crisis has put on the shelf any plans for an interest-rate boost. Maybe the good times can roll a little longer...
...fact, they are perfect. Elves, keep the presses running on those Goldilocks reprints, because I want to stuff one in every stocking as a memento of the "not-too-hot, not-too-cold" economy that has brought us rising stocks, full employment and low inflation. Incidentally, I've asked Fed chief Alan Greenspan to leave his board and join ours next year. He's a miracle worker worthy of our magical tradition. I'm studying his reply now. He says the odds are "not negligible" but that any "irrational exuberance" would be premature. I'll let you know whether that...
Bill Clinton is not supposed to jawbone the chairman of the Federal Reserve, lest the financial world think he is trying to influence interest rates. But he got a chance to bend ALAN GREENSPAN's ear on another subject this week when the Fed chairman and his wife, NBC correspondent ANDREA MITCHELL, passed through the receiving line at the annual White House Christmas party for members of the press. As they posed for pictures, Clinton asked Greenspan whether he and Mitchell owned a dog. "You ought to get one," Clinton enthused as he recounted tales of his new puppy Buddy...