Bill Clinton: “I don't comment on what they do one way or the other, except to try to explain it to people in terms that I think are…”

“I don't comment on what they do one way or the other, except to try to explain it to people in terms that I think are relevant. I understand what happened if the objective is to have a real rate of return on short-term interest rates. That is, the short-term interest rates ought to be something above the rate of inflation. But even Mr. Greenspan has said repeatedly that this should not lead to an increase in long-term interest rates. He has said long-term interest rates are, if anything, too high while short-term interest rates might have been too low. So if the market is going to rationally react to this, long-term interest rates should say, well, there's not going to be any inflation in the economy, and we've got good growth so interest rates ought to stay down, not go up. That's what I hope will happen over the long run. Bosnia”