New Delhi: As the US economy's maestro prepares to pass the baton to his successor, it literally means the end of an era. On Tuesday, the US Federal Reserve Chairman Alan Greenspan is due to step down after nearly 19 years in the job.
Greenspan served a total of five terms and will be succeeded by former federal board governor and a respected economist Ben Bernanke. He is to be sworn in as the 14th chairman of the Federal Reserve on Wednesday.
While some analysts say the departing Fed chief aided growth and avoided inflation, others argue that Greenspan leaves behind an overheated housing market and a nation swimming in debt.
Upon his departure, Greenspan plans to set up a consulting firm. He'll also hit the speaking circuit, and plans to write a book
Before he leaves, however, Greenspan will have one last hurrah when the Federal Reserve meets on Tuesday to discuss interest rates. Wall Street is expecting another quarter point hike to four-point-five per cent.
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