On Monday, Alan Greenspan died at the age of 100. The Federal Reserve, which he led from 1987 until 2006, issued an encomium in characteristically modest and understated Fedspeak. Greenspan guided the economy through periods of “significant economic expansion” and “considerable stress.” On his watch, the American central bank realized “a sustained era of price stability,” helping to “anchor the public’s confidence in the institution.” Of Greenspan’s achievements, that last one seems the most