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
The determination of global economic activity in recent years has been influenced importantly by capital gains on various types of assets, and the liabilities that finance them. Our forecasts and hence policy are becoming increasingly driven by asset price changes.
The odds ... increasingly favor a revival in job creation,
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,
Despite the disruptions of Hurricanes Katrina, Rita and Wilma, economic activity appears to be expanding at a reasonably good pace as we head into 2006.
If no action is taken at all ... we're going to be confronted within a few years with a marked upward ratcheting of long-term interest rates, which is very debilitating to long-term economic growth,
By the measure of what benefits consumers, such enterprises should not be discouraged,
Fixed mortgage rates remain at historically low levels and thus should continue to fuel reasonably strong housing demand and, through equity extraction, to support consumer spending as well,
in more vulnerable countries where (the principal bank's) guarantee is more likely to be called upon and (where) cost might deter some aberrant borrowing.
Ned says he is leaving the board to return to teaching, but I must point out that, in a sense, he never left teaching, ... He has been instructing us all along, and we at the board have been his willing students.
The bottom line, however, is that, while immigration and imports can significantly cushion the consequences of the wealth effect and its draining pool of unemployed workers for awhile, there are limits,
as many uncertainties over the next 18 years as it has over the past 18.
As a nation we owe it to our retirees to promise only the benefits that can be delivered.
The economic fundamentals remain firm, and the U.S. economy appears to retain important forward momentum,
I think people are going to be quite surprised at their heating bills this winter,