In the 1990s, there was the idea that equities were made safe because activist monetary policy would always be able to respond to a plunge, saving the real economy, and thus expectations of a sharp recession were thereby stabilised in the first place, making crashes less likely.
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Greenspan Putlessness
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In the 1990s, there was the idea that equities were made safe because activist monetary policy would always be able to respond to a plunge, saving the real economy, and thus expectations of a sharp recession were thereby stabilised in the first place, making crashes less likely.