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
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.
Overall, the household sector seems to be in good shape,
Roger was the major policy maker during 9/11.
I think the IMF has done as much as it thought it understood it could do, ... I don't know what alternative policies could have been implemented which could have significantly altered the pattern that emerged once the vicious cycle began to accumulate to the degree that it did.
I think that the market is ultimately driven by real forces, ... Once you get a decline started, it's not clear whether people use that as a reason to sell or buy.
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 important to remember that most adjustment of a market imbalance is well under way before the imbalance becomes widely identified as a problem,
It is much too soon to conclude that these concerns are behind us, ... We cannot yet be sure that the slower expansion of domestic final demand, at a pace more in line with potential supply, will persist.
It is much too soon to conclude that these concerns are behind us,
I would strongly suggest that, while there is an obvious strongly desired sense to move rapidly, it's far more important to be right than quick,