ECB research highlights Greenspan’s powers of persuasion
Alan Greenspan frequently demonstrated the ability to bring the regional Federal Reserve bank presidents round to his line of thinking, according to a working paper published by the European Central Bank (ECB) yesterday.
The paper, Does the Greenspan era provide evidence on leadership in the FOMC? by Makram El-Shagi and Alexander Jung, notes the Federal Open Market Committee (FOMC) took "a large number of its interest rate decisions in a consensual manner" during Greenspan's tenure as chairman
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