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News > Economy
The briefcase barometer
March 21, 2000: 8:33 a.m. ET

The size of Greenspan's satchel could signal direction of interest rates
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NEW YORK (CNNfn) - Investors from Main Street to Wall Street have been debating the merits of "old economy" and "new economy" stocks, but others were watching Fed Chairman Alan Greenspan and his briefcase as he walked to Tuesday's meeting of Federal Reserve policy-makers.
    Wall Street economists like to say that Greenspan's decision on what the central bank will do to interest rates is signaled by the size of his briefcase.
    Most analysts Tuesday were expecting a bulky briefcase - indicating, in their view, that Greenspan was prepared to justify his decision to raise rates another quarter point in a bid to slow the economy and put the brakes on inflation. It would be the central bank's fifth increase in short-term interest rates since last June.
    A thin briefcase would mean the central bank is more likely to hold rates steady, analysts say.
    
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    Greenspan walks uncovered through the rain, but what does his closed briefcase reveal? Back to top

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