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How the Fed learned to talk

from The New York Times

In his nearly 19 years as chairman of the Federal Reserve, Alan Greenspan was notorious for speaking in an elliptical, oracular, even mystifying style. Mindful that a single errant syllable might cause markets to soar — or tumble — Mr. Greenspan mastered a language, “Fed-speak,” so turgid that it made economics textbooks seem like children’s literature by comparison. Those days are long gone. more

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