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
An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions. They seem to sense... that gold and economic freedom are inseparable.
It's a bubble. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven't been able to do it. Maybe somebody else can.
The notion of a bubble bursting and the whole price level coming down ... as a national phenomenon is really quite unlikely,
Fixed mortgage rates remain at historically low levels and thus should continue to fuel reasonably strong housing demand and, through equity extraction, to support consumer spending as well,
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 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.
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.
The trend of existing home sales has been relatively flat at a reasonable high level for quite a long period of time, and if we can maintain that we are doing well,
The level of equity prices would appear to envision substantially greater growth of profits than has been experienced of late,
...most of the gains in the level and the growth rate of productivity in the United States since 1995 appear to be structural, largely driven by advances in technology and its application -- irreversible in the sense that knowledge once gained is almost never lost,
The growing stability of the world economy over the past decade may have encouraged investors to accept increasingly lower levels of compensation for risk.
The Federal Reserve has responded to the balance of market forces by gradually raising the federal funds rate over the past year, ... Certainly, to have done otherwise -- to have held the federal funds rate at last year's level even as credit demands and market interest rates rose -- would have required an inappropriately inflationary expansion of liquidity.
I thought that the initiative that the Senate produced was very important and very effective,
This period of sub-par economic growth is not yet over, and we are not free of the risk that economic weakness will be greater than currently anticipated, requiring further policy response,