Alan Greenspan Otherwise Quotations

The purpose of a politician is to be a leader. A politician has to lead. Otherwise he's just a follower.

The Federal Reserve has responded to the balance of market forces by gradually raising the federal funds rate over the past year, ... Certainly, to have done otherwise -- to have held the federal funds rate at last year's level even as credit demands and market interest rates rose -- would have required an inappropriately inflationary expansion of liquidity.