The Greenspan Effect

Alan Greenspan — the inimitable Chairman of the United States Federal Reserve System — can send financial markets around the world crashing with a comment, or build fortunes just as quickly. Yet he is largely inaccessible and little understood by investors, policymakers, and the broader public. This analysis of the writings and speeches of Greenspan throughout his tumultuous regime aims at separating rhetoric from market-moving signals. By encapsulating his thinking on a broad range of key economic and social issues, it analyzes how he has impacted, and may continue to impact, world financial markets.