Covering decades of financial history, only 2 Federal Reserve Board chairmen won my respect. First was William McChesney Martin who reigned in the sixties. He understood the dynamics of business cycles then. They were induced by corporate exuberance, namely capital spending and over-inventorying.
Covering decades of financial history, only 2 Federal Reserve Board chairmen won my respect. First was William McChesney Martin who reigned in the sixties. He understood the dynamics of business cycles then. They were induced by corporate exuberance, namely capital spending and over-inventorying.
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