o, we're left with a big fat "I don't know." This is not necessarily all that different from calling the situation a "conundrum," but February's discussion had the air of someone who thought that rates should be higher, while this week's discussion was more like 'I still don't know why we're here, but I can't fade it any more.' By the way, it might be a noteworthy fact that this is exactly the transition that Chairman Greenspan made with respect to the U.S. stock market in late 1999/early 2000, i.e. right at the top