The Greenspan Era and the Fed's Support for Financialization

In 1994 Greenspan really destabilized financial markets by raising interest rates and that brought on a Mexican another Mexican debt crisis it caused significant complications in us financial markets. In the mid 90s when Greenspan becomes more dovish on interest rate policy than the rest of the Fed most of the Fed including Janet Yellen who was at the time on the board think that interest rates can't go any lower because unemployment is already as low as it can go. At that moment Greenspan thinks interest rates can go even lower and that unemployment can grow even lower for two reasons: One, workers have been disempowered and so as a result they won't be able to exploit you know the low interest