David Jones Markets Quotations

Greenspan is giving the markets a reality check. Good for him.

That crisis is stabilizing now so I think some of the attention in the markets will come back to that report.

Without any question, the Fed is vastly different now in terms of openness and transparency. Greenspan's theme has been the more markets know, the better.

Along the way, there also have been major innovations and probably his best one is transparency: Recognizing the need to communicate continuously with markets in deciding how policy will be formulated.

The culture of the chairmanship is to be the dominant voice in the Fed. If you have a weak chairman . . . the markets could be very unsettled.