17 Quotes by Allan Meltzer

They'll want to see him tested. Greenspan had, in a sense, the good fortune that there was a crisis (Black Monday, Oct. 19, when the Dow lost more than 20%) within the two months of the time he acceded to the chairmanship, and he handled the crisis very well. That established him in the market as a credible chairman.

They'll want to see him tested, ... Greenspan had, in a sense, the good fortune that there was a crisis (Black Monday, Oct. 19, when the Dow lost more than 20%) within the two months of the time he acceded to the chairmanship, and he handled the crisis very well. That established him in the market as a credible chairman.

The fact that you have only these minor criticisms is quite an achievement.

His big failing is that he hasn't provided the Fed with a replicable method of re-creating Alan Greenspan. He hasn't left behind an institutional framework that will guide his successor.

He's staying with the position he had before. There are local bubbles but no national bubble.

He's very knowledgeable about fiscal areas and has worldwide contacts.

He thinks academic economists are much more concerned with rules and models, while he's more concerned with making judgments. He has gone to some effort to establish that he is not following a rule.

I don't think that you can set policy according to possible contingencies that may occur, but about which you have no information.