But politics, not economics, explains why the Fed chairman changed his tune about America’s weak external position. Mr. Greenspan’s statement in Frankfurt in November alarmed senior European Central Bank (ECB) officials, who considered it a “provocation” – one that promptly sent the dollar into an unwanted tailspin.
但是，是政治，而非经济，导致了美联储主席对美国不利的外部形势改变论调。格林斯潘于去年11月在法兰克曾发表了被欧洲央行(ECB)高层官员视为“挑衅”的言论，并立刻将美元推入了一个不应有的衰退境地。