Tom Toles for March 27, 1997
March 26, 1997
March 30, 1997
Transcript:
Greenspan: Stock prices have been irrationally exuberant, so we're raising interest rates. This exuberance holds dangers that must not go unchecked. The exuberence has lasted for an extended period. So why is it a danger now? Becuase corporations may become so exuberant that they could start giving their workers actual raises. And that would be inflationary. Toles: Mr. Irrational Exuberance himself.
