U.S.: Behind The Fedspeak: More Rate Cuts

On Feb. 16, Bill Clinton threw out what amounted to a policy challenge to Federal Reserve Chairman Alan Greenspan via his Chief of Staff Leon E. Panetta. "The President believes there is some room for additional growth," Panetta told reporters. Coming from an Administration that has gone out of its way to make nice with the Fed, the remark sounded like a broadside.

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