Alan Greenspan addresses the International Monetary Conference in London via video. Bond prices fell after his speech, which brought up the possibility of interest rates or inflation climbing higher than had been expected. (Andy Shaw -- Bloomberg News) |
Greenspan said Fed officials continue to believe they can raise rates at a "measured" pace because of their economic forecasts. But he acknowledged that they might be wrong and have to shift their strategy, which would mean raising rates more quickly or in larger steps than previously envisioned.
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