Chairman of the Fed Alan Greenspan

Many suggest that Alan Greenspan (the chairman of the Fed) is the second most powerful man in the world. Why?

As chairman of the American Federal Reserve, Alan Greenspan stands second only to the President of the United States in terms of power; he holds the American economy in the palm of his hand. Greenspan's masterful control of interest rates (raising them when inflation went up and cutting them when the economy slowed down) has kept the economy from faltering and "ensured a time of spectacular prosperity in America." (Cunningham). Although it appears that our current economic problems cannot be resolved so simply again, Greenspan suggests that the massive trade and current account deficits can be reduced in an orderly manner that is smooth and seamless to the American

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Category: Economics - C