Q. How many Federal Reserve chairmen does it take to change a light bulb?
A. One. Greenspan holds the bulb, and the rest of the world revolves around him.
That joke, making the rounds on Wall Street, is a not-too-subtle poke at Federal Reserve boss Alan Greenspan, who has recently offered some unusual--even heretical--views on why he'll continue to raise interest rates to slow things down.
The apostle of the new economy is now citing increasing productivity as a source of inflation. To many economists, it's like saying vitamin C causes colds. The chairman is also concerned that we're feeling a...