, Columnist
When Did Governments Get Out of Economy Business?
As Haruhiko Kuroda wowed markets in his first decision as Bank of Japan governor, it was hard not to think back to Alan Greenspanâs days as Federal Reserve head.
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As Haruhiko Kuroda wowed markets in his first decision as Bank of Japan governor, it was hard not to think back to Alan Greenspan's days as Federal Reserve head.
In 1987, U.S. President Ronald Reagan created a bit of a monetary monster when he tapped Greenspan to run the Federal Reserve. Whereas his predecessor Paul Volcker had been so hawkish and polarizing that he received death threats from business owners, Greenspan offered a far more populist and dovish take on interest rates.