Greenspan’s stumbles hold lessons for Warsh’s Fed
The Maestro’s moves might not be suitable for today’s geoeconomic situation
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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.
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