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's important that whomever I pick is viewed as an independent person from politics. It's this independence that gives people not only here in America, but the world, confidence.
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.
The U.S. economy appears to have withstood a set of blows -- major declines in equity markets, a sharp retrenchment in investment spending, and the tragic terrorist attacks of last September -- that in previous business cycles almost surely would have induced a severe contraction,
We have to do it in a cautious, gradual way. ... (We) should go slowly and test the waters.
The probability of an unwelcome substantial fall in inflation over the next few quarters, though minor, exceeds that of a pickup in inflation.
There appears to be enough evidence, at least tentatively, to conclude that our strategy of addressing the bubble's consequences rather than the bubble itself has been successful,
the recent surge in energy prices will undoubtedly be a drag (on the economy) from now on.
The recent data still exhibit deterioration, ... The question of most fundamental importance is how long will that continue and where will it spread, and where will the stampede of buffalo stamp all over us before we can stem this.
There do appear to be, at a minimum, signs of froth in some local markets,
What is not clear is whether the market values that are being placed on particular assets involved in this technology revolution are appropriately priced.
What it suggests is that, if you smooth through the noise in the data, we are getting increasing confirmation that something fundamentally important did happen in the latter half of the 1990s, and it gives us some confidence looking into the future,
Doubtless, the substantial improvement in the access of business decision makers to real-time information has played a key role, ... Today, businesses have large quantities of data available virtually in real time. As a consequence, they address and resolve economic imbalances far more rapidly than in the past.
As I indicated several weeks ago to a university audience, ... it is just not credible that the United States, or for that matter Europe, can remain an oasis of prosperity unaffected by a world that is experiencing greatly increased stress.
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,