Greenspan's Fear of Deflation Is What Got Us Here

Grant, James
October 2009
Reason;Oct2009, Vol. 41 Issue 5, p28
The article focuses on the anti-inflationary move taken by U.S. Federal Reserve (Fed) Board's chairman Alan Greenspan, which the author views as a cause of inflation. It mentions that due to Greenspan's fear of deflation and the alarming sluggish consumer prices in 2002-2003 that made the Fed pressed interest rate. It cites the Fed's policy of excessive reserves totaled to 1.8 billion dollars in 2007 and totaled to 744 billion dollars in 2009.


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