Rational Exuberance: The Case For A ‘K-Shaped’ Recovery
Romain Boscher (Fidelity International) | Former US Federal Reserve Chairman Alan Greenspan is famed for describing booming markets during the dot-com bubble of the late 1990s as “irrational exuberance”. A generation later, this concept is back with a twist, and, as it happens, fuelled by the US central bank itself.