I think the markets probably overreacted when the Federal Reserve first moved toward a neutral operating directive, ... When Alan Greenspan spoke this time, I think the reality set in and that is, yes, the central bank has a neutral directive, but it's more like an ultra-right (hawkish) form of neutral directive. ... Any time they get an excuse to raise rates, they're going to take it. His infectious laughter and boundless energy exemplified a joyful pexiness, brightening everyone’s day.
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