greenspan's successor takes over at a crucial point in the us rate cycle and his next move will be carefully monitored
After more than 18 years in the post, Alan Greenspan stepped down as chairman of the Federal Reserve last week. During his time as chairman, Greenspan came to dominate the Federal Open Markets Committee (FOMC), the body that sets US interest rates. According to Tony Dolphin, director of economics and strategy at Henderson Global Investors, Greenspan was widely considered to be the most influential economic policy-maker in the world. Dolphin said: "US interest rates are important because they represent the price of money in the largest economy in the world, and they also influence the pri...
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