If policymakers learn that lesson from Greenspan's era and its aftermath, then, perversely, Alan Greenspan's legacy will be a positive one.
It is hard, of course, to feel too sorry for the Fed's Alan Greenspan, who enjoyed rock-star-like levels of popularity in the late 1990s, when America happily handed him the credit for its long economic boom.
The Federal Reserve's Alan Greenspan has declared himself fully vindicated in his decision not to prick the stockmarket bubble in the late 1990s, but instead to wait for it to burst and then cut rates sharply to cushion the economic consequences.
ECONOMIST: Yesterday's financial architecture needs refurbishing
It's most likely the last one for Alan Greenspan, who's been chairman of the Federal Reserve Board for 18 years now.
We are already suffering from a mild inflation, thanks to Alan Greenspan's over-printing of the greenback.
The White House is incapable of leadership, so the ball is now in Alan Greenspan's court.
So did the stock market--up 5% since President Bush raised Ben Bernanke to Alan Greenspan's throne at the Fed.
The inflation set off by Alan Greenspan's mistaken monetary extravagance in 2004 has not been fixed by his successor.
Alan Greenspan's testimony this week to both houses of Congress may have briefly halted the slide in equity prices.
One Mexican bookseller is doing a brisk trade with piles of Doris Lessing novels, books on Yoga and even Alan Greenspan's autobiography.
If it were then a question of assigning blame rather than credit, Mr Clinton would no doubt want to increase Alan Greenspan's ample share.
Alan Greenspan's not-so-secret model pegs 8000 as the Dow's fair-market value.
Now, attention will turn to Federal Reserve chairman Alan Greenspan's keenly awaited testimony on monetary policy to the Senate Banking Committee on Thursday at 1400 GMT.
With its March 25th move, combined with Fed Chairman Alan Greenspan's icy proclamations about excess in the financial markets, the Fed appears for now to have sided with the hawks.
Bush's political skills will be severely tested from the get-go particularly given the choppy economic waters ahead, thanks to Alan Greenspan's tight money and the failure of Washington to enact meaningful tax cuts.
The paper backs US Federal Reserve chief Alan Greenspan's view that the policies of the European Union member states are to blame "for not using the new technologies to reduce costs and ditch protectionist ballast".
Commenting on Mr. Alan Greenspan's crafting of U.S. monetary policy, a recent magazine article warned against the obsessive drive to achieve some arbitrary consumer price index rate, and compared it to Captain Ahab's fatal pursuit of Moby Dick.
But Alan Greenspan's aim has likewise been to do no harm: he has passively accommodated the expansion, by and large, rather than trying either to spur it or curb it, and the administration has always backed him up.
And Alan Greenspan's decision this week to raise interest rates by just a quarter of a point, never mind that it was the first increase for two and a half years, will do little to disturb their equanimity: the change had been widely expected and when it came the markets applauded politely (see article).
The Fed's chairman, Alan Greenspan, a great one for a shapely statistic, had better keep an eye out for a bounce in bra sales.
As the Fed's chairman, Alan Greenspan, acknowledged in the closing months of 2002, uncertainty about the future is holding both investors and consumers back.
The IMF also appeared to back the views of the Fed's chairman, Alan Greenspan, on the productivity improvements seen in America in the late 1990s.
When the Fed's chairman, Alan Greenspan, first realised that the economy was heading for the rocks in early 2001, he and his colleagues acted quickly to cut rates and minimise the damage.
On that basis, people might think that the main responsibility of Alan Greenspan, today's Fed chairman, is growth.
The book drew its title from a famous remark about the market's heady level by Alan Greenspan, the chairman of the Federal Reserve, in December 1996 (when the Dow stood at a mere 6, 500, 40% less than today).
The authors excoriate the U.S. Fed under Alan Greenspan and Ben Bernanke for conducting a recklessly (and, we know, disastrously) expansionary monetary policy from 1995-2006, with money supply growth of 5.3 percent about inflation (p. 256 of the book).
This is why Alan Greenspan, the Fed's chairman, has advised caution on a fiscal stimulus.
But spare a thought for Alan Greenspan, the Fed's chairman, who actually has to take the decisions.
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