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The briefcase barometer
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December 21, 1999: 8:42 a.m. ET
Fed watchers size up the bulge in Alan Greenspan’s briefcase
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NEW YORK (CNNfn) - While scrambling holiday shoppers keep some economists busy number-crunching, others are keeping their eyes on Fed Chairman Alan Greenspan’s early morning stroll to Tuesday’s Federal Open Market Committee meeting.
The size of Greenspan’s briefcase as he heads for the closed-door FOMC meeting is the best economic indicator of all, some say.
A bulky satchel, goes the rationale, spells out a rise in interest rates, as Greenspan will have to haul along notes to justify his decision.
On the other hand, a thin satchel means rates will remain pegged right where they are.
On the way in to the FOMC, Greenspan’s neutral expression was duly noted -- but was his briefcase? You decide. 
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Federal Reserve Board
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