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News > Economy
Rate hike in the bag?
August 24, 1999: 10:58 a.m. ET

Greenspan briefcase seen as foretelling interest rate actions
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NEW YORK (CNNfn) - It's almost always tucked in his left hand, held close to his side, and it could be the nation's most reliable economic indicator. Or, at least, that's the theory.
     Some "Fed heads" say that the size of Federal Reserve Board Chairman Alan Greenspan's briefcase as he heads into a meeting of his policy-making board is the best indication of whether or not a change of interest rates is in the cards.
     The rationale is that if Greenspan wants to alter rates, he will need a lot of documentation to convince the rest of the Federal Open Market Committee. If no change is needed, his briefcase will be relatively light.
    
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Greenspan's briefcase: size does matter

     Most analysts, economists and investors think that a quarter-point hike in short-term interest rates is already in the bag. We'll find out later Tuesday.Back to top

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.