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
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,
Europe is very critical to the United States in the sense not only do we have a fourth of our exports there, but more importantly, a significant proportion of the foreign affiliate profits in fact, half of U.S. corporations, are in Europe.
The Fact that our economical models at The Fed, the best in the world, have been wrong for fourteen straight quarters, does not mean they will not be right in the fifteenth quarter
Governor Kelley is a man of the highest principle, ... I will miss his wise counsel. In his fourteen years on the Board, he has given more than sound judgment and hard work; he has given us the gift of his friendship.
It's too soon in the fourth quarter to make very many judgments, but despite the fact that we clearly have been shocked by the tragedy of September 11, there is no evidence at this stage from the data we have to date that there will be a decline in the fourth quarter,
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 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,
Over most of the past several years, the behavior of unit labor costs has been quite subdued, ... But those costs have turned up of late, and whether the favorable trends of the past few years will be maintained is unclear.