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Did Alan Greenspan Make a Terrible Mistake?

Brad DeLong has an excellent and thought-provoking meditation on whether Alan Greenspan made the wrong bet by keeping interest rates low in the 1990s. On Tuesdays and Thursdays, Brad says, he thinks Greenspan made a terrible mistake. On Mondays, Wednesdays, and Fridays, he thinks Greenspan made the right decision. It's not clear what he thinks on weekends (maybe he refuses to think about Greenspan on weekends? Seems like a sensible policy.)

Anyway, read Brad.

By Ezra Klein  |  June 19, 2009; 5:00 PM ET
Categories:  Financial Crisis , Solutions  
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The proxy directs to this url instead of the one you intended, at least in Firefox.

Posted by: aawiegel | June 19, 2009 5:44 PM | Report abuse

Go ask Bill Flekenstein (a famous ‘short’ trader) and you will get the answer….

Posted by: umesh409 | June 20, 2009 2:01 AM | Report abuse

Regardless of Alan Greenspan's particular quirks and the specifics of each Fed funds rate fluctuation, it's a big mistake to leave the Federal Reserve in charge to begin with.

Rather, it's an unbroken string of small mistakes, made by conservatives, that add up to the Congress punting on fiscal policy.

Posted by: Aatos | June 20, 2009 9:11 AM | Report abuse

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