James Eglehoff of BNP Paribas believes that Federal Reserve Chairman Jay Powell's decision to cut rates in response to tariffs was heavily influenced by Alan Greenspan's 1998 playbook for the Long-Term Capital Management crisis.

Alan Greenspan would use the size of his briefcase to non-verbally signal upcoming interest rate decisions to the market.

James Eglehoff of BNP Paribas characterized Alan Greenspan as a Federal Reserve Chairman who set monetary policy largely independently from the rest of the committee.