Today’s Fed chief is said to be an admirer of Greenspan (1926-2026) but he mustn’t take it too far
· livemint.com
Kevin Warsh, the new chair of the US Federal Reserve may admire the ‘maestro,’ but he must not misread Greenspan’s legacy. Warsh must remind himself of what went wrong under the late former Fed chief—and how times have changed for monetary policy.
Greenspan’s resume was burnished in the late 90s, when he let the economy run a bit hotter than others might have preferred, betting that incipient productivi...