WASHINGTON -- In 2000 when Wall Street's bubble burst and the economy hit a brick wall, Federal Reserve chairman Alan Greenspan and other Fed officials revealed in their closed-door meetings plenty of concern about just where things might be headed.
Transcripts of those discussions, released yesterday, found the officials groping to determine what the sharp declines in the stock market might do to the broader economy.
Various major market indexes began 2000 by hitting record highs, with the Dow Jones industrial average peaking at 11,722.98 on Jan. 14, 2000. But then the market began a sharp dive as the Internet stock bubble burst. At the lows two years later, more than $7 trillion in paper wealth had been wiped out.
