The feeling from Greenspan's point of view is that you don't want a pure academic for this post because that person may not have enough political savvy and enough market sense. |
This is a new environment. These issues of globalization are going to be a really big issue for Greenspan's successor. |
What Katrina has done is shift the economic focus from inflation to growth. |
You can imagine scenarios at this point where the Goldilocks economy turns into a nightmare. |