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The first economic crisis Alan Greenspan faced as Fed chairman was the 1987 CRASH. Will Jerome Powell be 'baptized' by a similar crisis?

Posted By: NaturalWisdom
Date: Sunday, 25-Mar-2018 19:28:20
www.rumormillnews.com

In Response To: Will trading of PETRO-YUAN contracts on MAR 26 trigger another BLACK MONDAY? Check out the stock market similarities between 1987 and 2018 (NaturalWisdom)

The 1987 stock market crash occurred in October, two months after Greenspan's appointment as Fed chairman. In comparison, Jerome Powell assumed the position less than two months ago.

Alan Greenspan
From Wikipedia, the free encyclopedia
https://en.wikipedia.org/wiki/Alan_Greenspan

Alan Greenspan KBE (born March 6, 1926) is an American economist who served as Chairman of the Federal Reserve of the United States from 1987 to 2006. He currently works as a private adviser and provides consulting for firms through his company, Greenspan Associates LLC. First appointed Federal Reserve chairman by President Ronald Reagan in August 1987, he was reappointed at successive four-year intervals until retiring on January 31, 2006, after the second-longest tenure in the position (behind William McChesney Martin).

Jerome Powell
From Wikipedia, the free encyclopedia
https://en.wikipedia.org/wiki/Jerome_Powell

Jerome Hayden "Jay" Powell (born February 4, 1953) is a former American investment banker, who is the current Chair of the Federal Reserve.

On November 2, 2017, President Donald Trump nominated Powell to serve as the Chair of the Federal Reserve.

On December 5, 2017, the Senate Banking Committee approved Powell's nomination to be Chair in a 221 vote, with Senator Elizabeth Warren casting the lone dissenting vote. His nomination was confirmed by the Senate on January 23, 2018 by a 8413 vote. Powell assumed office as Chair on February 5, 2018.





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