The inverse. Lower rates -> higher bond value. Bonds work like that. Greenspan held bonds. He worked rates lower. That made the bonds he held more valuable

The inverse. Lower rates -> higher bond value. Bonds work like that. Greenspan held bonds. He worked rates lower. That made the bonds he held more valuable because those were paying higher interest than new bonds. Now mind you, lower interest rates was a very good thing in the 80s. Whether you think lower is better even now, one thing is certain: Greenspan did have a conflict of interest even as he showed how much he didn't.