Brian Sack Mitt Quotations

Greenspan continued to be the most influential committee member. However, his dominance was markedly diminished, in that his total market impact was 'only' about twice as large as the next FOMC member.

Greenspan continued to be the most influential committee member.

The most provocative interpretation (of this change) is that market participants anticipated that the Committee was going to become more democratic once Greenspan departed, and hence began to pay more attention to the comments by other FOMC members.

The most provocative interpretation is that market participants anticipated that the committee was going to become more democratic once Greenspan departed, and hence began to pay more attention to the comments by other FOMC members.

He would take stands on very important issues ... that at times did not fully agree with the chairman or other committee members, but would do so in a very effective way.

The committee has been very clear about what its strategy is. It expects to continue to tighten, but it doesn't know how much farther it has to go, and those decisions will depend on the incoming data.