Greenspan, Alan
Those who argue that you can incrementally increase interest rates to defuse bubbles ought to try it some time. I don't know of a single example of when interest rate policy has been successful in suppressing gains in asset prices.
Those who argue that you can incrementally increase interest rates to defuse bubbles ought to try it some time. I don't know of a single example of when interest rate policy has been successful in suppressing gains in asset prices.