Has the US Economy Exhibited Less Uncertainty During the Greenspan Era‪?‬

INTRODUCTION It is well recognized that Allan Greenspan was among the best Chairman in the history of central banks, guiding the U.S. economy through a prolonged period of economic growth and stability, throughout the 1980s and 1990s. However, it is difficult to measure a Federal Reserve Chairman's or a central bank's performance, and to compare central banks' performance, in part because economies exhibit different growth rates, inflation and interest rates at different stages of development, and each economy has its own particular natural, cultural, and political conditions and environments, and the differences may sometimes dominate the role of a central bank.