Deflation: What Greenspan said in closed meetings
The Federal Reserve releases transcripts of meetings of the Federal Reserve's Federal Open Markets Committee meetings five years after they take place. The 2002 tapes came out this morning. Here is AP's story.
Greenspan expressed concerns about the country falling into a "deflationary hole.""It's a pretty scary prospect and one that we certainly want to avoid," Greenspan told other members of the Federal Open Market Committee.
The transcripts in their entirety can be read here.
