When President Clinton appointed Alan Blinder to be deputy chair of the Fed, his big hope was to find out what Alan Greenspan really thought rather than the public facade of gobbledygook. The term Fedspeak (also known as Greenspeak) is what Alan Blinder called "a turgid dialect of English" used by Federal Reserve Board chairmen in making wordy, vague, and ambiguous statements. Greenspan described it this way:
To Blinder’s astonishment, Alan Greenspan spoke just the same as he did at monetary policy meetings of the Fed as he did in public! Blinder never disagreed fundamentally with Greenspan about monetary policy.
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