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November 8, 2009

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Editorial: Fed chairman’s remarks promising

Wednesday, Dec. 6, 2000 | 10:04 a.m.

It is encouraging that Federal Reserve Chairman Alan Greenspan sent word Tuesday that the central bank is ready to cut interest rates to help prevent a recession. The Fed has played an important role in the economic prosperity the nation has witnessed in the past decade, so investors on Tuesday warmly greeted Greenspan's common-sense remarks.

Meanwhile, George W. Bush and Dick Cheney recently have suggested that Bush's $1.3 trillion tax cut may be necessary to stimulate the economy, which has shown some signs of slowing from its record pace. Economic warning signals certainly must be heeded, but dramatic measures don't seem warranted now. The economy still is healthy, which hopefully will dampen enthusiasm for irresponsible tax cuts that could spur inflation.

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