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
I do think that we have to bring the existing instability to a level of stability reasonably shortly to prevent the contagion from really spilling over and creating some very significant kinds of problems for all of us.
Although I doubt that the U.S. dollar will lose its status as the world's reserve currency any time soon, there are in my judgment lessons to be learned from the experience of (Britain's currency) as it faded as the world's dominant currency,
Should the pool of workers continue to shrink,
Human beings make mistakes, ... I know of no supervisory action we can take that will prevent that. I know of no legislation to help us prevent them from making dumb mistakes.
At some point, labor market conditions can become so tight that the rise in nominal wages will start increasingly outpacing the gains in labor productivity, and prices inevitably will then eventually begin to accelerate,
Large deficits will result in rising interest rates and an ever-growing ratio of debt service to GDP (gross domestic product),
The economy suffered significant shocks in late summer and early autumn,
If we are to remain preeminent in transforming knowledge into economic value, ... America's system of higher education must remain the world's leader in generating scientific and technological breakthroughs and in meeting the challenge to educate workers.
Hopefully his successor, whoever it is, will demonstrate that the good policy we've had over the past 18 years is as much due to the evolution of the institution as it is to Greenspan per se.
The remarkable American economy, whose roots are still not conclusively known, and the Asian crises that caught us by surprise, among other humbling experiences, have made policy-makers particularly sensitive to how fast the world can shift beneath our feet,
I don't think we did pop the bubble. We did raise interest rates in 1999, and the reason we did that is that real long-term rates were beginning to rise because the economy was beginning to accelerate,
is scheduled to discuss the flexibility of the U.S. economy and its resilience to shocks, a topic he addressed two weeks ago.
Any notable shortfall in economic performance from the exemplary standard of recent years runs the risk of reviving mistrust of market-oriented systems, even among conventional policy makers,
The Fed is struggling to find a firmer standard of monetary policy, ... The focus on asset prices has become an increasing issue of debate at the Fed.