The Daily Interview: Don't Blame Greenspan

As more and more analysts and pundits -- including yesterday's Daily Interview subject, Robert Froehlich -- decry Fed Chairman Alan Greenspan's decision not to cut short-term interest rates by a wider margin Tuesday, some of Greenspan's supporters are starting to rally to his defense.

Michael Boldin Economics Researcher Wharton School of Business.

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Harvard University's Samuel L. Hayes

Michael Boldin, an economics researcher at the Wharton School of Business, is one of them. He thinks Wall Street was wrong to have expected a more dramatic rate cut from the Fed on Tuesday. He maintains that ensuring that the stock market keeps rising is not and should not be Greenspan's primary concern, and that both the stock market and the economy are in better shape than people realize. ...