High Quality Content by WIKIPEDIA articles! The "Greenspan Put" refers to the monetary policy that Alan Greenspan, the former Chairman of the United States Federal Reserve Board, and the Fed members fostered from the late 1980s to the middle of 2000. "Put" refers to a put option in which the buyer acquires the right to sell at a pre-agreed price if prices drop. During this period, when a crisis arose, the Fed came to the rescue by significantly lowering the Fed Funds rate, often resulting in a negative real yield. In essence, the Fed pumped liquidity back into the market to avert further deterioration

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