Tuesday, December 05, 2006

Up yours

Greenspan assiduously (if too little too late) raised US interest rates off near historical lows, and as his time ran out at the Fed, he felt the global economy was in need of a similar step on the brake so the US wouldn't have to all the heavy lifting.

So he told his fellow global cenbankers, "we've upped ours, so up yours".

In uncharacteristic French style, Trichet is obliging.

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