Is the Fed Really Getting Smarter?

In the summer of 19 87, a young youn semi young of economist got pointed chairman of the reserve that wasa greenspan. And guess what? We had black monday. In reality, it was a monetary pin that brought the excesses in the market down in 19 eight, seven years ago. They've gotten far more incremental since then. The big difference to day over what you saw back in the eighties or seventies is that ted is much more transparent. Now, that can be good and bad, because they don't pull any surprise moves. Back an when they were doing the battles in the seventies, they would hike rates between meetings. Well, they'll never