Greenspan controlled the FOMC duplicitously: he would poll members in turn, only propose a funds-rate change if he had the votes, and otherwise leave policy unchanged—using the going-around-the-table procedure to read whether he had support before committing.

factualpending

Speaker

Michael Belongia

Evidence Quote

Greenspan exercised his control in a very duplicitous way

Source

Michael Belongia on the Fed 01/11/2010EconTalk
Created: 6/15/2026, 9:37:51 AM

My Notes

Loading notes...