His crisis-fighting playbook rescued markets and reshaped central banking. But it also entrenched moral hazard and left unresolved the harder test of true Fed independence

Financial historian James Grant had a withering look at Alan Greenspan’s epic run at the Fed just before he stepped down in 2006—and a few short years before the Great Recession.

Alan Greenspan’s reputation as head of the US Federal Reserve was legendary — not least because of his reputation for convoluted statements. However, the financial crisis took a…

His approach to the economy was hands-off, but he was honest enough to admit his financial crisis failures

Barry Eichengreen explains why the longtime Federal Reserve chair was one of the Fed's most consequential leaders—for good and bad.