Hints and tips:
...Jimmy Carter When Jimmy Carter entered the Oval Office in 1977, Arthur Burns was Fed chair and facing growing criticism for his handling of inflation since his first appointment by Richard Nixon....
...At one point, President Richard Nixon’s dirty tricksters invented a smear story about the Fed chair, Arthur Burns, and refused to retract it until Burns promised looser policy....
...In the early 1970s, Arthur Burns pressed for wage and price controls, to the chagrin of Richard Nixon....
...Ultra-low unemployment in the late 1960s eventually led to much higher inflation, when Fed chairman Arthur Burns was pressured by the presidential re-election campaign in 1972....
...As Greenspan once quipped: “I have never seen a constructive regulation yet”....
...Richard Nixon, for example, chose in Arthur Burns a man so attached to him that the former Fed chair recorded in his diary telling the president “that his friendship was one of the three that has counted...
...US presidents have form in pressing central bank chiefs to hold down rates — George H W Bush and Alan Greenspan, Ronald Reagan and Paul Volcker, Lyndon Johnson and William McChesney Martin....
...Greenspan was also, shall we say, not above politics....
...In contrast with Mr Bernanke’s predecessor, Alan Greenspan, Ms Yellen has run the Fed in a much more collegiate fashion....
...Greenspan would utter it a few months later, in a hypothetical warning....
...The best historical analogy is arguably Arthur Burns, who led the Fed between 1970 and 1978....
...And he was party to a notably disreputable ploy to curb the authority of the then Fed chairman, Arthur Burns....
...In the 1970s, Arthur Burns used to ask staff economists to create increasingly narrow indices of prices to capture what he felt was the “underlying” trend of stable inflation....
...Alan Greenspan did little in 1992, 1996 and 2000. He also paused a tightening cycle in August 1988, then resumed hiking in November, just after the US elected George Bush senior....
...Alan Greenspan 40....
...(This 1973 discussion at Brookings featuring Arthur Okun and Alan Greenspan has a good overview of what people were thinking just as the Great Inflation was starting to get really out of hand.)...
...Alan Greenspan, appointed by Ronald Reagan to succeed Mr Volcker in 1987, stressed continuity as well as improved communication....
...Bush in the summer of 2005, when the native of tiny Dillon, South Carolina, was being considered to replace legendary Fed chair Alan Greenspan....
...One of those who was expressing scepticism two years ago is Arthur Kroeber of Gavekal’s Dragonomics, who pointed out signs of overheating due to the stimulus, and later levelled the “Greenspan put” label...
...Alan Greenspan, the former Fed chairman, attracted the most frequent criticism of any individual....
...the US housing policy with his ultra-low interest rate policy which financial markets dubbed “the Greenspan put.”...
...If Mr Wen does not make a new push on reforms or push back on pressure to let debt levels rise further, says Mr Kroeber, “he risks being remembered as China’s Greenspan”....
...Alan Greenspan’s “irrational exuberance” speech in 1996 had a briefly chilling impact on stock markets around the world....
...For the same reason an analogy with Arthur Burns does not work. Burns was Richard Nixon’s Fed chairman....
...I sat down at the table with Arthur Levitt, president of the American Stock Exchange at the time and he informed me what had happened....
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