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Greenspan Today Jude Wanniski March 2, 2005 |
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From: Jude Wanniski <jwanniski@polyconomics.com
To: Ben.S.Bernanke@ * * * * *.GOV
Subject: Greenspan today12:01 pm, 3/2/2005
He was exceptionally good today.... and the market enjoyed a 60-pt swing from his beginning to his end. Esp. good in noting that foreign reserves did not lower interest rates very much and their sale would not raise rates very much.
He didn't read my conundrum paper.... noting that there is less of a conundrum today because long rates have moved up. If he looked at the movement in long rates relative to the variations in gold in recent months, he might have a better understanding of the conundrum's origins.
Jude