Why Is the Fed Seeking Advice From the Architect of Past Financial Meltdowns?
As the leader of a body that determines the fate of the world behind closed doors, the head of the Federal Reserve is highly scrutinized. Observers, for example, used to guess what former Fed Chair Alan Greenspan was thinking about interest rates based on the weight of his briefcase. If the load was heavy, the reasoning stood, Greenspan had paperwork to convince the other members on the panel that...