Alan Greenspan
Alan Greenspan
Alan Greenspanis an American economist who served as Chairman of the Federal Reserve of the United States from 1987 to 2006. He currently works as a private adviser and provides consulting for firms through his company, Greenspan Associates LLC. First appointed Federal Reserve chairman by President Ronald Reagan in August 1987, he was reappointed at successive four-year intervals until retiring on January 31, 2006, after the second-longest tenure in the position...
NationalityAmerican
ProfessionEconomist
Date of Birth6 March 1926
CityNew York City, NY
CountryUnited States of America
through education and training, not by restraining the competitive forces that are so essential to overall rising standards of living of the great majority of our population.
We are very firm in the notion that this country should not visit the 1970s again in the way of inflation,
This schedule change avoids a meeting that spans the terms of two chairmen,
We're going to see some erosion in a number of macroeconomic variables
Unless the situation is reversed, at some point these budget trends will cause serious economic disruptions,
There is a palpable unease that businesses and jobs are being drained from the United States, with potentially adverse long-run implications for unemployment and the standard of living of the average American,
To date, interest-sensitive spending has remained robust and the FOMC (Federal Open Market Committee) will have to stay alert for signs that real interest rates have not yet risen enough to bring the growth of demand into line with that of potential supply, even should the acceleration in productivity continue,
when we are at neutral, we will know it.
What they perceive as newly abundant liquidity can readily disappear,
There are powerful reasons to suspect that the elimination of the double taxation of dividends and cuts in marginal tax rates will elevate long-term productivity, ... If, however, in the process we get a significant increase in deficits, which induce a rise in long-term interest rates, that will be a significant undercutting of the benefits achieved by tax cuts.
There is a limit to how long and how far deficits can be sustained,
There are sound reasons for concluding that the long-run picture remains bright ... but I would emphasize that we continue to face significant risks in the near term,
It's only when the markets are perceived to have exhausted themselves on the downside that they turn. Trying to prevent them from going down just merely prolongs the agony.
I think the whole issue of a debt ceiling makes no sense to me whatsoever. Anybody who is remotely adroit at arithmetic doesn't need a debt ceiling to tell you where you are.