Last week, the economy was booming. Employment was way up, as was the stock market, inflation was down, productivity had ascended dizzying heights and consumer confidence was hunky-dory. Things were just the way Americans like them: the rich were getting richer and the poor . . . were getting poorer more slowly.
But not to worry; we have a man whose job it is to fix all that. His name is Alan Greenspan, and he is the chairman of the Federal Reserve Board. He is there to prevent the outbreak of excessive prosperity, and he is good at what he does.