India dodged the ‘Greenspan put’ but that era’s lessons for monetary policy must never be lost
So it was with the man who served as chair of the US Federal Reserve for 18 years from 1987 till he retired in 2006, just two years before the West’s financial crisis of 2008. To put this in perspective, his term at the Fed’s helm overlapped that of five Reserve Bank of India (RBI) governors, R.N. Malhotra, S. Venkitaramanan, C. Rangarajan, Bimal Jalan and Y.V. Reddy.
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