The Need for Clarity in Washington – Not Just on Crypto

To be fair, the art of obfuscation is not a new practice among central bankers. The standard-bearer was Alan Greenspan, who occupied the powerful Fed chairmanship for 19 years before his exit in 2006, two years before the global financial crisis produced the ultimate legacy of his “new economy” position encouraging big banks, low rates and financial innovations such credit default swaps: the financial crisis of 2008. Greenspan’s meandering, obtuse commentaries spawned the term “Fedspeak.”