After Greenspan: The Taylor Rule?

The past decade's sexiest economics idea arrives in Washington. Look out, Fed

You can't get in line fast enough to complain about Alan Greenspan these days. Want to bash his up-down decisions on interest rates on the op-ed pages of the Wall Street Journal or the New York Times? Take a number, and wait behind the bankers and professors. Eager to trash his endorsement of tax cuts? Expect to get his answering machine. He's on the other line talking to his old friend Robert Rubin, who put through an emergency call to Greenspan two weeks ago to try to muzzle the Fed chief's pro-slice stance.

In a way, it's a sensible snapback from...

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