The Fed: What the Fed can learn from Greenspan as it prepares for Trump

Penguin Press

Sebastian Mallaby is the Paul A. Volcker Senior Fellow for International Economics at the Council on Foreign Relations. He is the author of a new book called “The Man Who Knew, The Life and Times of Alan Greenspan”

Things changed dramatically for the Federal Reserve on November 8.

Donald Trump’s victory means the end of more than twenty years of detente between the White House and the U.S. central bank. In 1993, the Clinton administration instituted a policy not to criticize the Fed that has survived ever since. But Trump has shown repeatedly that he has no problem criticizing decisions he doesn’t like.

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