If Greenspan is worried about the markets more than he is worried about retirees, no chance (a rise in the fund rates rather than the expected decline may cause an avalanche in the bind market and a lot of "carry trade going sour...). Personally, I think that the medicine should be administered and now, since economically another cut will mean absolutely nothing and sooner or later we will have to pay the piper for those "carry trades". maybe he can find a way (no change in rates with fear of deflation removed and bias to no risk to slow, but steady economic recovery) to get all this "carry trade" to be unwound softly and gradually.
Zeev
Market Data 
Markets 
AI
