LONDON: New Federal Reserve Chair Kevin Warsh is unlikely to differ much from the late Alan Greenspan on how the central bank should deal with financial asset bubbles - and that legacy offers little comfort to anyone.
During his almost two decades leading the Fed, Greenspan - who died on Monday at the age of 100 - routinely insisted the central bank should not try to deflate financial market bubbles in advance. Instead, it should simply mop up the mess whenever one bursts.
