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
capital change dramatic eventually expansion investment judgment level number slow ways
Our judgment is that the level of consumption growth...will slow down, and the dramatic expansion in capital investment will slow down, ... Something will eventually change the pattern, but there are a number of different ways that can happen.
anyway changes impact market prices react respond stock targeting
Let me say this anyway on the record: We do not and have not been targeting stock prices for the purposes of endeavoring to stabilize this economy, ... We react if and when stock market price changes impact on the economy. We respond to the economy.
change clearly concern issue last longer number occurred threats
Threats of deflation, which were a significant concern last year, by all indications are no longer an issue before us, ... That clearly is a change that's occurred in the last number of weeks, and it's a change ... that's been long overdue and is most welcome.
avoids change meeting schedule terms
This schedule change avoids a meeting that spans the terms of two chairmen,
account adequate america changes current deficit degree economic exchange housing interest large maintain rates rather
If we can maintain an adequate degree of flexibility, some of America 's economic imbalances, most notably the large current account deficit and the housing boom, can be rectified by adjustments in prices, interest rates, and exchange rates rather than through more-wrenching changes in output, incomes, and employment.
assess assuming believes borrowers carefully changes effect equity federal involved margin purchase recognizes regard reserve risks stock studies suggest volatile
With regard to margin requirements, studies suggest that changes in such requirements have no appreciable and predictable effect on stock prices, ... Nonetheless, the Federal Reserve recognizes that considerable risks can be involved in the purchase of equity on margin, especially in volatile markets, and believes lenders and borrowers need to assess carefully the risks they are assuming through the use of margin.
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Because it is difficult to suppress growing market exuberance when the economic environment is perceived as more stable, a highly flexible system needs to be in place to rebalance an economy in which psychology and asset prices could change rapidly,
affecting assets balance changes confronted economies exhibit factors households income larger perhaps potential relative responses risen sheets value
As the value of assets and liabilities have risen relative to income, we have been confronted with the potential for our economies to exhibit larger and perhaps more abrupt responses to changes in factors affecting the balance sheets of households and businesses,
changed current doubt policy stance
no doubt that the current stance of policy ? will need to be changed at some point.
bring changes dramatic explain facts indeed skeptical together
When we see significant, dramatic changes ... we are skeptical as indeed we should be, ... bring together all of the facts we can marshal and the most sophisticated insights to explain those facts that we can.
allow change debt dynamic flow nature priority reduction surplus type
As I have said previously to this committee, because of the nature of the type of acceleration in productivity and dynamic change that is occurring in the American economy, my first priority would be to allow as much of the surplus to flow through into a reduction in debt to the public,
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dramatic demographic change is certain to place enormous demands on our nation's resources.
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Changes in consumer confidence will require close scrutiny in the period ahead, especially after the steep falloff of recent months,
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The changes in the budget outlook over the past several years are truly remarkable, ... We need to resist those policies that could readily resurrect the deficits of the past and the fiscal imbalances that followed in their wake.