Pulling a Greenspan means that low unemployment isn't inflationary in and of itself because of productivity growth and therefore you don't need to pull the punch bowl just because of stock market euph
What changed
Pulling a Greenspan means that low unemployment isn't inflationary in and of itself because of productivity growth and therefore you don't need to pull the punch bowl just because of stock market euphoria. It's been Fed policy for at least 10 years. The problem is we actually have an inflation problem, which Greenspan didn't have in the late 90s boom... — via @sidprabhu