New Federal Reserve Chair Kevin Warsh may follow Alan Greenspan's approach of not intervening in financial bubbles, a strategy that led to the dot-com and credit crises. While Greenspan defended his actions, there are questions as to if this passive stance is still viable, especially with current market valuations and inflation concerns.

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.

Warsh shifts the Fed back toward Greenspan‑style opacity, challenging Bernanke’s transparency era and raising new risks for markets, inflation expectations and policy clarity.

New Federal Reserve Chair Kevin Warsh may follow Alan Greenspan's approach of not intervening in financial bubbles, a strategy that led to the dot-com and credit crises. While…