Maestro — Epilogue

1. 1. Greenspan argued the Fed must be transparent and accountable, as unelected officials cannot be exempt from public scrutiny.
2. 2. Greenspan's transparency policy turned FOMC interest rate decisions into major media events, with CNBC running countdown clocks.
3. 3. Greenspan volunteered to continue testifying before Congress after the Humphrey-Hawkins Act requirement lapsed, using cryptic language to maintain influence.
4. 4. Greenspan's mastery of process has consolidated political power in the Fed chairmanship, making him nearly immune to criticism.
5. 5. Greenspan is data-driven, not theory-driven, and his key decisions include staying his hand when traditional models called for rate hikes.
6. 6. Greenspan avoids talk shows and filters his public words carefully, once joking 'I'm not allowed to say' when asked how he was.
7. 7. Greenspan's opaque yet seemingly truthful demeanor has earned public confidence, making his unelected stewardship accepted.
8. 8. Greenspan represents the crossroads of American optimism and fear of economic doom, serving as both director and producer of the nation's economic soap opera.