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What Alan Greenspan got right and wrong at the Fed

Marketplace

Marketplace

News, Business

4.68.5K Ratings

🗓️ 11 January 2024

⏱️ 28 minutes

🧾️ Download transcript

Summary

Alan Greenspan served as chair of the Federal Reserve for 18 years, cooling inflation in the 1990s and demonstrating that the Fed was independent from politicians. But he also made mistakes that helped lead to the financial crisis of 2008. In this episode, biographer Sebastian Mallaby dives into Greenspan’s complicated legacy. Plus, why beef and other animal product prices haven’t fallen to pre-pandemic levels, and what wholesale inventory numbers signal about the economy.

Transcript

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1:01.7

a test of sorts on the program today how far back does your economic memory go.

1:10.0

From American public media, This is market plants. In Los Angeles, I'm Kai Rizdell. It is Wednesday, today, the 10th of January.

1:28.2

Good as always to have you long, everybody.

1:31.3

Okay, something different in the first half of the program today and I'm going to set it up by counting backwards by fed chairs.

1:42.0

Powell, Yellen, Bernanke, to Greenspan.

1:47.0

Alan Greenspan is known for a lot of things.

...

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