A hard act to follow - post Alan Greenspan Free Essay, Term Paper and Book Report
A hard act to follow
Oct 13th 2005
From The Economist print edition
Who could fill Alan Greenspan's shoes?
ON THE ground floor of the Federal Reserve building in Washington, DC, there is an electronic game which tests a visitor's skill at setting interest rates. You have to decide how to respond to events such as rising inflation or a stockmarket crash. If you get all the answers right, the machine declares you the next Fed chairman. In real life, because of huge uncertainties about data and how the economy works, there is no obviously right answer to the question of when to change interest rates. Nor is there any easy test of who will make the best Fed chairman. So who would The Economist select for the job?
Alan Greenspan will retire as Fed chairman on January 31st, after a mere 18 ½ years in the job. So George Bush needs to nominate a successor soon. Mr Bush has a penchant for picking his pals to fill top jobs: last week he nominated his personal lawyer Harriet Miers to the Supreme Court (see article). But his personal bank manager really would not cut the mustard as Fe......
Word Count: 1055
Page Count: 4.2 (250 words a page / double spaced)
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