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
Keeping out competitively priced goods would materially lower our standard of living.
I suspect that with the underlying database publicly available, it is just a matter of time before the ex-post results of analysts recommendations are compiled and published on a regular basis, ... I venture to say that with such transparency, the current upward bias of analysts' earnings projections would diminish rather rapidly.
...most of the gains in the level and the growth rate of productivity in the United States since 1995 appear to be structural, largely driven by advances in technology and its application -- irreversible in the sense that knowledge once gained is almost never lost,
will almost surely be reported as one of the largest advances, if not the largest, posted over the past 30 years.
We need to recognize that we really do not know the answer for this immediate period.
We have obviously specified implicitly that we prefer to act within our scheduled meetings, ... But we have also shown over the years that when we perceive that actions are required between meetings we have never hesitated to move.
will undoubtedly be a drag from now on.
Such developments apparently reflect not only market dynamics but also the all-too-evident alternating and infectious bouts of human euphoria and distress and the instability they engender,
Such an increase in market value is too often viewed by market participants as structural and permanent, ... To some extent, those higher values may be reflecting the increased flexibility and resilience of our economy.
Surely difficult challenges lie ahead for the Fed, some undoubtedly of our own making, and others that will be thrust on us by market or other forces,
Terrorism poses a challenge to the remarkable record of globalization, ... I trust that we will go forward expeditiously with the pending new trade round. The differences to be resolved in such talks are small relative to the larger issue of maintaining our freedoms to travel and trade on a global scale.
Looking ahead, the consensus expectation for a pickup in economic activity is not unreasonable, though the timing and extent of that improvement continue to be uncertain,
Let me say this anyway on the record: We do not and have not been targeting stock prices for the purposes of endeavoring to stabilize this economy, ... We react if and when stock market price changes impact on the economy. We respond to the economy.
I think people are going to be quite surprised at their heating bills this winter,