irrational exuberance love

irrational exuberance

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  • I finally managed to use this term in a meeting a few days ago. Unfortunately, most of the people in the room didn't recognize it.

    May 2, 2008

  • Term coined by Alan Greenspan in a lecture on the importance of price stability and the Federal Reserve System for the American Enterprise Institute on 5 Dec 1996.

    "How do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions, as they have in Japan over the past decade? And how do we factor that into monetary policy?"

    May 2, 2008