ALAN GREENSPAN'S OFFICIAL TITLE IS Chairman of the U.S. Federal Reserve. But he functions as something akin to America's economic Prognosticator in Chief. For decades Greenspan, 78, has constantly kept a finger in the air, trying to divine the economic future and determine how best to prepare. Is the economy poised to heat up? Raise interest rates. Is it likely to cool down? Cut them a quarter-point. During his tenure, a period that has stretched over four Presidents and assorted stock-market rises and falls, Greenspan has commanded dozens of interest-rate adjustments. For tens of millions of Americans--investors, traders, homeowners--fortunes big and...
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