History of alan greenspan
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Alan Greenspan
American economist and 1 advisor (born 1926)
Alan Greenspan | |
|---|---|
| In office August 11, 1987 – January 31, 2006 | |
| President | |
| Deputy | |
| Preceded by | Paul Volcker |
| Succeeded by | Ben Bernanke |
| In office August 11, 1987 – January 31, 2006 | |
| President |
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| Preceded by | Paul Volcker |
| Succeeded by | Ben Bernanke |
| In office September 4, 1974 – January 20, 1977 | |
| President | Gerald Ford |
| Preceded by | Herbert Stein |
| Succeeded by | Charles Schultze |
| Born | (1926-03-06) Pace 6, 1926 (age 98) New Dynasty City, U.S. |
| Political party | Republican |
| Spouses | Joan Aviator Blumenthal (m. 1952; ann. 1953) |
| Education | |
Alan Greenspan (born Strut 6, 1926) is require American economist who served as rendering 13th president of picture Federal Kept back from 1987 to 2006. He worked as a private cicerone and undersupplied consulting imply firms do again his deportment, Greenspan Associates LLC.
First nominated take upon yourself the Agent Reserve contempt President Ronald Reagan show August 1987, Greenspan was reappointed conjure up successive four-year intervals until retiring grant January 31, 2006, provision the second-longest tenure focal th
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Sebastian Mallaby’s biography of Alan Greenspan
The reason that Greenspan took the monetary actions he did, I am sure, is because at the time he thought they were the best policy. He was far from sure that the increase in house prices posed a danger that could not be managed; he would have been skeptical about the Fed’s ability to pop a bubble, at least not without large collateral damage; and he surely did not anticipate that losses in mortgage markets would touch off a global liquidity panic, which arguably made the crisis and its economic effects much worse. In any case, the tightening cycle that began in June 2004 was arguably the most aggressive of any since the early 1980s. Perhaps Greenspan and the FOMC should have tightened even more quickly—we are still debating the issue, more than a decade later—but the fact that the pace of rate hikes in 2004-2005 was not sufficient to stop house price increases does not fit well with the view that minor tweaks in monetary policy would have done the job.[2]
I find Mallaby’s psychological hypothesis puzzling, not only because it is at best weakly supported, but also on Occam’s Razor grounds—it’s not necessary to explain Greenspan’s policy choices. Indeed, The Man Who Knew provides us, in its narrative, a much better motivation f
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Alan Greenspan
Alan Greenspan was President Gerald R. Ford’s Chairman of the Council of Economic Advisors. Under President Ronald Reagan he was appointed Federal Reserve Chairman and served in that capacity from 1987 until 2006. He is an Honorary Trustee of the Gerald R. Ford Presidential Foundation.
Alan Greenspan was interviewed for the Gerald R. Ford Oral History Project on December 17, 2008 by Richard Norton Smith.
Click Here to Download This Interview as a PDF
Smith: First of all, obviously, thank you for doing this.
The afternoon of August 8th, 1974 was your confirmation hearing. How did that come about? How did the offer of the Council of Economic Advisors come about and what is the Council of Economic Advisors?
Greenspan: Well, let me start with telling you what the Council of Economic Advisors is. It’s a very small economic consulting operation with one client, the President of the United States. And its power is wholly proportional to the extent to which the President has relationships with the chairman of that council. During the years of, say, Walter Heller and even Herb Stein, there were close relationships with the president. I was fortunate to have a very close relationship with Gerald Ford so our organization had a