During his tenure as the head of the Federal Reserve Bank, the bank that controls the interest rates for most loans in the United States, Alan Greenspan became famous for "Fedspeak," speech deliberately intended to hide any hint of what actions the Federal Reserve Bank might take to correct the course of the U.S. economy. After his tenure, Greenspan admitted that this was done deliberately, in order to prevent any upsets in the financial markets. The less information he gave out, the better.
Watch the video in which Greenspan explains his method. Why is Greenspan so hard to understand? Can you tell what actions the bank intends to take? Why or why not?
Alan Greenspan's Use of "Fedspeak." Greenspan, Alan and Leslie Stahl. "Alan Greenspan's Use of Fedspeak." 60 Minutes. YouTube. 16 Sept. 2007. Web. 2 Aug. 2012.