Greenspan's mixed legacy of monetary policy.

On June 22, Alan Greenspan, who had been in charge of the Federal Reserve for 19 years and passed away at the age of 100. Standing at a macro turning point in the current financial market with high volatility, high government debt, and the emergence of an AI asset bubble, reviewing the gains and losses of the Greenspan era can provide a highly practical policy reference for the Federal Reserve under the new chairman, Powell.