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
How do we know when irrational exuberance has unduly escalated asset values?
Regulators have not been able to achieve the level of future clarity required to act pre-emptively. The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so ...
Greenspan, who knew so much more than most, knew far less than most supposed ...
Look, I'm very much in favor of tax cuts, but not with borrowed money. And the problem that we've gotten into in recent years is spending programs with borrowed money, tax cuts with borrowed money, and at the end of the day that proves disastrous. And my view is I don't think we can play subtle policy here.
We are seeing an evolving new international economy. We are in the process of learning how it works as we are doing it, ... Fortunately, the trauma that came out of the Russian default created so much risk aversion ... we probably have time to be deliberative in determining how the (international monetary) structure ought to be structured.
We're going to be running into very severe pressures in later years, and the better we are prepared in moving into that period, the more likely it is that we will address it in a rational, sensible rational way,
We should not be cutting taxes by borrowing,
We should not be cutting taxes by borrowing, ... We should be cutting taxes by reducing the level of spending and that's an issue that I think is critically on the table.
Through most of last year's slowdown, in contrast to the usual pattern, the household sector was a major stabilizing force, ... As a consequence, although household spending should continue to trend up, the potential for significant acceleration in activity in this sector is more limited.
Throughout all this history, the CEA has, in most cases, provided the president with the best economic advice available at the time and has, crucially, been a consistent advocate for the importance of market forces,
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.
There are various competing explanations, ... the extraordinary surge in technological innovation has yielded a sharply higher return in investments.
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,