Greenspan’s stumbles hold lessons for Warsh’s Fed

ALAN Greenspan, the titan of global central banking who led the US Federal Reserve during decades of prosperity, has died at 100, just when elements of his free-market philosophy are experiencing a renaissance.

Greenspan is best remembered by fans – including new Fed chair Kevin Warsh – for his economic stewardship during a period known as the Great Moderation.

Taking over after the inflation-plagued 1970s and early 1980s, Greenspan’s Fed delivered mostly stable prices, booming asset markets and steady economic growth.