Comment: Greenspan's legacy

As the curtains are drawn on the Alan Greenspan era at the Federal Reserve, the debate over whether or not the Fed should have increased interest rates to curb asset bubbles rages on. This debate misses the extent to which the Fed's actions may have caused, or at least contributed to, the emergence of such bubbles.

COMMENT BY CENTRALBANKNEWS

Greenspan sceptics argue that the Fed could -- and should -- have pricked asset bubbles on two occasions in recent years. The first of these dates back to the

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