Word: greenspans
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Dates: during 2000-2009
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...ALAN GREENSPAN'S OFFICIAL TITLE IS Chairman of the U.S. Federal Reserve. But he functions as something akin to America's economic Prognosticator in Chief. For decades Greenspan, 78, has constantly kept a finger in the air, trying to divine the economic future and determine how best to prepare. Is the economy poised to heat up? Raise interest rates. Is it likely to cool down? Cut them a quarter-point. During his tenure, a period that has stretched over four Presidents and assorted stock-market rises and falls, Greenspan has commanded dozens of interest-rate adjustments. For tens of millions...
Despite the importance of Greenspan's task, he is cagey about his methods. He routinely declines press interviews and will describe his decision-making processes only via circumlocutions that even some veteran Fed watchers find confusing. He relies, of course, on factory reports, unemployment stats and other economic data. But he has also developed his own method to help evaluate the likelihood of various scenarios, assigning a probability to each outcome. His priority, he told the Senate banking committee in June, is understanding "the many sources of risk ... quantifying [them] ... and assessing the costs associated with each...
TIME: Like Greenspan sat next to Hillary Clinton 11 years...
TIME: We'll get to that. First, a word on the Fed chief, Alan Greenspan, whose term expires under our next President...
VALLIERE: Greenspan day in and day out is more important to the economy than the President. But whether it's Kerry or Bush, whoever chooses Greenspan's replacement in '06 will choose a centrist...