American economist and former Fed chair
Major central banks have held policy rates this week while signalling differing paths. The Fed has left its target at 3.5–3.75% under new chair Kevin Warsh and has tightened communications; the Bank of England has kept Bank Rate at 3.75% after a 7–2 hold vote; the Bank of Japan has raised its policy rate to a 31‑year high. Energy-driven inflation remains the common shock.
The Fed has kept rates unchanged as Kevin Warsh begins a reform drive focused on limiting forward guidance and expanding task forces to rethink data, communications, and the balance sheet. Projections show some officials anticipating a hike this year, while Warsh withholds his own forecast.
Alan Greenspan has died at 100 from complications of Parkinson’s disease, with the Fed legacy under scrutiny after years of growth and the 2008 crisis. Reports outline his long tenure, market influence, and debate over deregulation and risk.
The Federal Reserve has for decades moved steadily from a remote, opaque government agency that shared little about what it did or why to a more transparent institution willing to explain how it makes decisions and what it thinks about the economy