Cool Factor at the Fed

Here's an eyebrow-raising headline from the Globe and Mail, "Canada's National Newspaper": "Fed raised rates after Katrina to look cool." Yeah, there's nothing like a little interest rate hike to turn Alan Greenspan into George Clooney. Turns out what the paper really meant was that the folks at the Federal Reserve didn't want to look like they were panicking about the potential effects of Katrina on the U.S. economy.