Evaluating and Ranking FED Chairs from 1950

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In 1955, during a lavish party of New York's financial elite, William McChesney Martin – Chairman of the US Federal Reserve (Fed) – made a famous statement:
"The Fed's job is to take away the punch bowl just as the party gets going."

That succinct statement perfectly captures the thorny role of the Fed Chairman in the modern economy: controlling inflation without stifling growth, defusing asset bubbles before they burst, and maintaining market confidence in the national currency.

Over the past seven decades, generations of Fed Chairs have faced harsh challenges – from the 1970s inflation crisis, dot-com bubble, 2008 financial Great Recession, to the COVID-19 pandemic and post-lockdown inflation shock.

Some are honored by history as guardians of economic stability.
Others become vivid examples of monetary policy failure.

Who is the best Fed Chairman?
Who left the most expensive lessons for posterity?
And what personal imprint made the difference?

In today's article, Viet Hustler will dive deep with you into analyzing the following aspects:

• The Importance of the Fed Chairman to the US economy and the modern global financial order.

• Consistent Evaluation Framework to properly understand each tenure: from economic context, economic philosophy, to real impacts on inflation and unemployment.

• Detailed Portraits of Each Fed Chairman from William McChesney Martin, Arthur Burns, Paul Volcker, Alan Greenspan, Ben Bernanke, Janet Yellen to Jerome Powell: achievements, failures, and legacy.

• Comparative Ranking Table: Who controlled inflation best? Who set the right priorities between price stability and maximum employment?

• Open Conclusion: In today's volatile world, should the Fed stick to the data or follow rigid rules?
  Is a new "Volcker Moment" approaching?