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
Lower equity prices and higher financing costs should damp household and business spending, and greater uncertainty and risk aversion may also lead to more cautious spending behavior,
In the face of energy price spike and the erosion of optimism in financial markets, consumer confidence, or sentiment, appears to be holding up reasonably well to date, though there have been some mixed signals of late.
Demand may be moving closer into line with the rate of advance in the economy's potential, given our continued impressive productivity growth, ... Should this favorable outcome prevail, the immediate threat to our prosperity from growing imbalances in our economy would abate.
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,
Six weeks after the beginning of the war, we have only limited readings on broader economic conditions, and that information has been mixed,
The complexity of our economy is such, and the way liquidity flows through the system is such, that you essentially get very complex differences in the way monetary policy plays out, ... But, at the end of the day, it does seem to be effective.
It has been an extraordinary privilege to be able to serve my country at the Federal Reserve, and I would be honored if the Senate saw fit to enable me to continue this association for another four years,
The major attraction of personal or private accounts is that they can be constructed to be truly segregated from the unified budget,
heed fully the Chinese position on exchange rate reform.
The housing boom will inevitably simmer down, ... As part of that process, house turnover will decline from currently historic levels, while home price increases will slow and prices could even decrease.
Instead of trying to contain a putative bubble by drastic actions with largely unpredictable consequences, we chose, as we noted in our mid-1999 congressional testimony, to focus on policies to mitigate the fallout when it occurs and, hopefully, ease the transition to the next expansion.
Still-significant productivity growth and a sizable margin of underutilized resources, to date, have checked any sustained acceleration of the general price level and should continue to do so for a time,
I am extraordinarily grateful to Alice Rivlin for her many contributions to the Federal Reserve.
Besides feared shortfalls in crude oil capacity, the status of world refining capacity has become worrisome as well,