Greenspan said interest rates should go up - but they went down

[donsu]

http://www.atimes.com/atimes/Global_Economy/GG22Dj01.html

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FX Trading
Talk about getting no respect. You're the chairman of the world's most dominant central bank. You announce to the world that interest rates need to go higher. You spend several hours fielding mind-numbing questions and deflecting odd-ball opinions from the brains trust assembled in the US Congress; you turn on your quote screen and you find interest rates have fallen. What's a self-respecting lame duck central banker to do?

It was one wild and weird day in the currency markets on Wednesday. What looked early in the session like we were headed into some type of serious fall for the euro - in the form of major euro revulsion, sparked by Mr Greenspan's initial comments, tuned into a stunning reversal and euro rally - the rest of the pack followed.

Now the game of cause and effect ... three come to mind at the moment:

1) No one believes Mr Greenspan. -snip-

2) The European Central Bank will not cut rates any further. -snip-

3) Loony behavior. -snip-
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it's more like nobody trusts Greenspan