For Subscribers


Will Greenspan's successor be able to give the economy the nourishment it needs?

By Julie Monahan

Opinions expressed by Entrepreneur contributors are their own.

The stock and bond markets tend to hang on every word AlanGreenspan speaks. So what happens when those words include"goodbye"? After the second longest reign as FederalReserve chairman in the history of the position, Greenspan isexpected to retire at the end of his current term in 2004. But noclear successor has emerged.

Analysts expect markets to dip once a successor is named, butpredict a swift recovery if skittish investors are won over. Areputation as an inflation fighter and a grasp of the Fed'slimitations are what the markets will look for. "My bet isthat under a Bush administration it will be someone close to theequity markets," says J. Patrick Raines, an economicsprofessor at the University of Richmond in Richmond, Virginia. Sucha choice will go a long way to reassure the markets, particularlybecause it resonates with Greenspan's own policies.

Continue reading this article — and all of our other premium content with Entrepreneur+

For just $5, you can get unlimited access to all Entrepreneur’s premium content. You’ll find:

  • Digestible insight on how to be a better entrepreneur and leader
  • Lessons for starting and growing a business from our expert network of CEOs and founders
  • Meaningful content to help you make sharper decisions
  • Business and life hacks to help you stay ahead of the curve

Related Topics

Business News

4.9 Million Bottles of Fabuloso Cleaner Recalled Over Contamination Concerns

Manufacturer Colgate-Palmolive said the recalled units could contain bacteria dangerous to the immunocompromised.

Business News

'Ultra-Luxury' Real Estate Influencer Busted for Stealing $381,000 in COVID Relief Funds — To Fund Her Lavish Lifestyle

Daniela Rendon, 31, allegedly used fraudulently obtained money to lease a 2021 Bentley, rent a luxury apartment, and pay for cosmetic surgery.

Business News

Hermès Wins Trademark Case Against Artist Who Sold Birkin Bag NFTs

The case was deemed a critical examination of how a company can enforce intellectual property rights in relation to virtual assets.


Here's How to Add Music to Your Instagram Story

Want to know how to add music to Instagram stories to maximize their appeal? Here are a few ways to add music to Instagram content.

Money & Finance

What Is Earnest Money and How Much Should You Pay?

Not sure what earnest money is or how much it will cost when buying a home? Discover the answers to these questions and more in our detailed guide.

Business Ideas

How to Make Thousands of Dollars on the Side As a Virtual Assistant

Apply your skills and experience to create a lucrative virtual assistant side hustle or full-time business.