Outlook: Alan Greenspan; This Time It's Serious
Alan Greenspan, chairman of the Federal Reserve, rarely gets quoted entirely accurately on anything. So it was perhaps inevitable that his uncontentious observation yesterday that it was not realistic "to look for a continuation of stock market gains of anything like the magnitude of those recorded in the past couple of years" should have become distorted on some of the more unreliable news wires to the bald assertion that stock prices were "unrealistically high". Plainly, there is a world of a difference.
All the same, what he actually did say was sobering enough. Mr Greenspan's normally delphic testimony to the US House of Representatives was, for a change, unambiguous. …
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Publication information:
Article title: Outlook: Alan Greenspan; This Time It's Serious.
Contributors: Not available.
Newspaper title: The Independent (London, England).
Publication date: October 9, 1997.
Page number: 23.
© 2009 The Independent - London.
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