Chairman, Volker Channon, Alan Greenspan discussed on Capital Ideas Investing Podcast - Alan Greenspan: The Man Who Knew


Fascinated now it and i should say also that when you go through the seventies the pictures you actually have in the book greenspan in the seventies our wonderful the kind of coats and pants and the guard from the seventies alan greenspan part choked fully of the of the era right seriously checks talk about the changes in said practice from greenspan's day to now greenspan was we were saying kind of the you know the the archetype of the the chairman whose testifying saying nothing and being you know in you we had there's some famous quote i think you say were if he if i seem to be coming across clearly you must not be understanding because his intent is to be you know totally opaque and say a lot of words that don't say anything now you flash four to today and the introduction of fed news conferences and what do you make of greenspan make of that with what was the case for kind of fed mystery versus today and are we better off what's the right way to think about well there's a long tradition tree which actually even predates greenspan arriving you know in the nineteen nineteennineties when volker channon before greenspan had a complete change in the way he did monetary policy he abandoned munnetra targets having a seven three as he didn't even ten anybody it was a secret and then he showed up a bit later the banking conference in says something like well none of you should really worry about this but we had a slight change in the way we do stuff that we might reverse it again they worry about it this is volcker volcker saying otherwise there was not only a lack of communication it was almost misinformation about what they were doing.

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