Report: Greenspan Broke Deal with ex-President Bush

Published on:
12 September 2006 at 10:19 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00003442-report-greenspan-broke-deal-with-ex-presi/

Former President George Bush broke his famous “no new taxes” campaign vow only after Federal Reserve Chairman Alan Greenspan agreed to cut interest rates in return, former U.S. Treasury Secretary Nicholas Brady is quoted as saying in a magazine report.

“It was very frustrating,” Brady said, according to the report in the April issue of GQ magazine. “There was an agreement that if the president would tackle the fiscal policy, (Greenspan) would lower interest rates … He just plain didn’t do what he said he was going to do.”

Wil Hylton, who wrote the story, said he asked Brady if he was sure Greenspan understood the deal, one the White House hoped would invigorate the economy by the time Bush faced reelection in 1992.

For this complete story, please visit Report: Greenspan Broke Deal with ex-President Bush.

Report: Greenspan Broke Deal with ex-President Bush

Unknown Author

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