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The Downside of the Fed’s Increasingly Complicated Expectations Game

Harvard Business Review

And in fact the prices of the particular financial assets that the Fed announced that it will buy less of, Treasury bonds and mortgage-backed securities, did drop slightly on the news Wednesday. Economy Finance Managing uncertainty' But stocks didn’t. When you view this reaction in terms of expectations, it makes a bit more sense.

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What Alan Greenspan Has Learned Since 2008

Harvard Business Review

I tried to get Greenspan to talk me for my November HBR article on economics and finance since the crisis , but he said he’d promised his publisher to keep mum until the book was out, which was too late for my purposes. I had an idea of constructing a certain statistical procedure. It was the form in which the asset was financed.