Monetary myopia - Alan Greenspan.(Federal Reserve Board's chairman)
Economist (US), The, January, 2006
Who will save us in future?
The accolades bestowed upon Alan Greenspan ahead of his retirement on January 31st have a strong whiff of irrational exuberance
ALAN GREENSPAN, now in his final weeks as the chairman of America's Federal Reserve, has been proclaimed "the greatest central banker who ever lived". Among ordinary Americans he enjoys almost rock-star status.
He has been awarded the Presidential Medal of Freedom, a British knighthood and the French Legion of Honour. Does he really deserve such uniform praise? And after the accolades have faded, what will economists conclude about his tenure?
It is ironic that when Mr Greenspan took over from Paul Volcker, his inflation-busting predecessor, in 1987, some questioned whether he...
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