Brad DeLong wrote:
> But... but... they don't *want* a higher stock market, and they don't
> *want* people believing in a Greenspan put...
.
Well, maybe not usually. But isn't this exactly what they've been targeting
for the past six months? Given the choice between the risk of creating a
Greenspan put and the risk of watching the U.S. economy meltdown, along with
much of the world, I think they're betting on the Greenspan put.
Unless you think an economic meltdown is so totally out of the question that the Fed isn't even thinking about it....
Seth