A newlywed at the age of 71, some 44 years after his first marriage was annulled, an admirer of high tech who nonetheless drafts speeches in longhand, a Republican who gets along better with the Clinton Administration than he ever did with its G.O.P. predecessors, Alan Greenspan has long been a man of surprises. But none is more startling than his recent transformation in the public mind. Back in 1994, when he was engineering a series of interest-rate increases, the Federal Reserve chairman was regularly assailed as a zealot willing to strangle economic growth in pursuit of a chimerical goal of...

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