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
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,
The rates of return on investment in the same new technologies are correspondingly less in Europe and Japan because businesses there face higher costs of displacing workers than we do, ... Moreover, because our costs of dismissing workers are lower, the potential costs of hiring and the risks associated with expanding employment are less.
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.
hesitancy to face up to the difficult choices that will be required to resolve our looming fiscal problems.
Economic policymakers face enormous uncertainty. Economic models provide a set of useful tools to frame future outcomes, but as we were reminded repeatedly during our efforts to forecast the economy in 1974 and 1975, models can go off track in myriad ways, ... Objective and thorough analysis ... is the most effective counterweight to this challenge.
It is possible to get markets which are too tight, which create inflationary imbalances and ultimately undercut the recovery,
I thought that the initiative that the Senate produced was very important and very 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,
It is becoming increasingly difficult to deny that something profoundly different than the postwar business cycle has emerged in recent years,
Large deficits will result in rising interest rates and an ever-growing ratio of debt service to GDP (gross domestic product),
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.
While actual CPI inflation has picked up this year, this rise has not been mirrored uniformly in other broad price measures,
Over the past decade, the U.S. economy has benefited from a remarkable acceleration of productivity. But experience suggests that such rapid advances are unlikely to be maintained in an economy that has reached the cutting edge of technology.
Over the last few months, these forces have taken their toll on activity, and evidence has accumulated that the economy has hit a soft patch,