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Mr. Pettit's column on March 25th highlights, "Industrials Slide 48.37," Mr. Pettit attributes a large portion of the market's "tailspin" at this time to, "Rising interest rates at home." It is certainly no coincidence that these two events happened at the same time.
Alan Greenspan, the current chairman of the Fed comes under great attack and praise with every move the Fed makes...
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He is, in a sense, the embodiment of the Fed. He has been in charge of the Fed since 1987. Some economists blame him for the recession of the early nineties. His influence on the interest rates as chairman of the Fed is monumental. It is his combined job as the Fed to steer the economy in a balanced manner that does not yield too much to inflation and to keep growth steady...
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