Alan Greenspan Essay

Alan Greenspan Essay-72
“He has been called, and I think justifiably so, the greatest central banker in history.” At the same time though, some media outlets have not been kind to Greenspan.

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With Greenspan, this is the onetwo punch: He leaves his mark, not his fingerprints.

Over the past thirtyeight years, Greenspan has mastered this form of political aikido, and not only with the press.

Within the government, he may be sovereign, but outside, his influence is less concrete.

On his own, he administers only two shortterm interest rates: the discount rate, which applies to loans from the Fed to banks, and the federalfunds rate, which applies to overnight loans between banks.

Introduction Alan Greenspan spent five terms as chairman of the Federal Reserve.

In that time, he helped shape this nation more than many people realize. in Economics from New York Alan Greenspan’s nomination to the chairman of the Board of Governors of the Federal Reserve was no mistake.

“Under his watch, we’ve had the two of the longest expansions in our economic history broken by two of the briefest recessions,” said Denver financier David Jones.

Lyle Gramley, a Fed governor during the 1980s, also had positive things to say about Greenspan.

Now, in his final year in office, he has watched the Bush administration destroy the budget surplus and drive the deficit to record highs.

So the mysterious chairman must decide Will he continue to fight for his economic principles, even if it means fighting his own party The last time Alan Greenspan spoke openly to the press was in 1987, soon after he was appointed chairman of the Federal Reserve.

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