Concern over nature of US ‘recovery’
Back about a month ago some were speculating that a cut of 0.75% might be a possibility from the Fed. That was never going to happen, but it is still a measure of the level of nervousness in the markets about the precise state of health of the US economy that some thought such an interest rate gesture might be required to get the US economy up and running again.
The good news is that Mr Greenspan the equivalent of our central bank governor, except for the fact that he is the most powerful of all central bankers, did nothing to add to the level of concerns about the nature of the “recovery” in the US.
