The maestro passes as regime change begins at the Fed
Just five days after Kevin Warsh’s first press conference as Federal Reserve chairman, Alan Greenspan, one of his predecessors, died at age 100. It is, to some extent, a passing of the torch. The “Maestro” certainly had his flaws, but he steered the Fed through the productivity boom of the 1990s without falling into the Keynesian trap of thinking economic growth causes inflation.
- ▪Just five days after Kevin Warsh’s first press conference as Federal Reserve chairman, Alan Greenspan, one of his predecessors, died at age 100.
- ▪It is, to some extent, a passing of the torch.
- ▪The “Maestro” certainly had his flaws, but he steered the Fed through the productivity boom of the 1990s without falling into the Keynesian trap of thinking economic growth causes inflation.
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Just five days after Kevin Warsh’s first press conference as Federal Reserve chairman, Alan Greenspan, one of his predecessors, died at age 100. It is, to some extent, a passing of the torch. Warsh made it clear on June 17, in his first interaction with the press, that he is a reform-minded Fed chairman, laser-focused on today’s cost-of-living crisis and undoing the two decades of bureaucracy that have been built up at the Fed since Greenspan.Warsh first joined the Fed as a member of the Board of Governors just after Greenspan retired from the chairmanship in 2006, ending nearly 19 years at the central bank’s helm.
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