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Why did Greenspan say 'irrational exuberance'?
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When did Alan Greenspan tighten monetary policy?
Irrational exuberance" is the phrase used by the then-Federal Reserve Board chairman, Alan Greenspan, in a speech given at the American Enterprise Institute during the dot-com bubble of the 1990s. The phrase was interpreted as a warning that the stock market might be overvalued.
On Dec. 5, 1996, in what became a famous speech at the American Enterprise Institute, the then-Federal Reserve chairman implied that the stock market was suffering from “irrational exuberance.” To be precise, Greenspan put it in the form of a reasonable question: “How do we know when irrational exuberance has unduly escalated asset values ...
Apr 8, 2022 · Alan Greenspan raised the question of whether central banks should address irrational exuberance via a preemptive tight monetary policy. He believed that central should raise interest rates...
Dec 5, 1996 · We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past. But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
Dec 3, 2016 · Irrational Exuberance: Alan Greenspan’s Call, 20 Years Later. The former Fed chairman’s phrase has since transcended Wall Street, Main Street and even the best-seller list. By. Steven...
Apr 27, 2022 · Alan Greenspan Quote. Fed Chair Alan Greenspan first coined the phrase in a 1996 speech to the American Enterprise Institute. In " The Challenge of Central Banking in a Democratic Society ," Greenspan asked how central bankers could tell whether asset values were overpriced.
Alan Greenspan's Irrational Exuberance Speech - The Big Picture. Alan Greenspan’s Irrational Exuberance Speech. December 5, 1996 10:00pm by Barry Ritholtz. click for video of speech. The Challenge of Central Banking in a Democratic Society. Remarks by Chairman Alan Greenspan. Annual Dinner and Francis Boyer Lecture of AEI.
