NAIRU fiddles while Rome burns

[timework@xxxxxxxxx (Tom Walker)]

"I would strongly suggest that while there is an obvious strongly desired
sense to move rapidly, that it's far more important to be right than quick,"
Greenspan told the Senate Banking Committee after testifying about the
impact of the terror attacks on the economy.

The powerful central banker told the panel in answering questions that the
Fed would know in a reasonably short period of time the impact the attacks
would have on the economy.

"That does not mean that future actions are not going to be required," he said.

Translation: "Wait 'til I examine the entrails."

Moral: "The entrails of the victims were consulted at Rome three hundred
years after Cicero had remarked, that the two augurs could no longer examine
them without laughter." -- J.B. Say

Tom Walker
Bowen Island, BC
604 947 2213