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
Whether those adjustments are wrenching will depend ... on the degree of economic flexibility that we and our trading partners maintain, and I hope enhance, in the years ahead,
While (Japan) has made some important efforts, it has yet to make significant progress in diversifying the financial system,
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,
We really can't forecast all that well, and yet we pretend that we can, but we really can't.
There is a huge number of people outside our borders who would love to come here. In fact, many of them come here, get well educated, and then are required to leave... This is a factor in income inequality.
Finance is wholly different from the rest the economy.