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Alan Greenspan fueled America’s boom — and set a course for future prosperity

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Alan Greenspan, who died Monday at the age of 100, presided over a two-decade-long period of almost unprecedented American boom and economic dominance that’s now inaptly called “The Great Moderation.” 

His long tenure as chairman of the Federal Reserve Board offers invaluable economic lessons that today’s Fed would be wise to heed.

President Ronald Reagan nominated Greenspan as Fed chair in 1987, during his second White House term. 

There Greenspan remained until 2006, reappointed by President Bill Clinton and staying through much of George W. Bush’s presidency.

His tenure followed a period of turbulent and often reckless monetary policy at the Fed. 

In the tumultuous 1970s, the Fed tried to juice a floundering economy with easy money, pushing inflation to as high as 11% on the eve of the Reagan presidency. 

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Family incomes crashed in real terms as Americans’ after-inflation incomes shrank.

It was the worst decade for the US economy since the Great Depression, sending the stock market into an extended slump.

Greenspan’s........

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