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
Because the pay-as-you-go system will be very difficult to manage, we need an alternative,
hesitancy to face up to the difficult choices that will be required to resolve our looming fiscal problems.
How do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
How can we ignore the fact that virtually all forecasts of the budget balance have been wide of the mark in recent years?
Before the crisis broke, there was little reason to question the three decades of phenomenally solid East Asian economic growth, largely financed through the banking system, so long as the rapidly expanding economies and bank credit kept the ratio of non-performing loans to total bank assets low,
Changes in consumer confidence will require close scrutiny in the period ahead, especially after the steep falloff of recent months,
Hopefully his successor, whoever it is, will demonstrate that the good policy we've had over the past 18 years is as much due to the evolution of the institution as it is to Greenspan per se.
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.
For the moment, the broadly unanticipated behavior of world bond markets remains a conundrum .
If I seem unduly clear to you, you must have misunderstood what I said.
I certainly agree with you that they are down to rock-bottom levels.
I can safely say there is no endeavor to coordinate an interest rate cut,
I cannot find (inflation) no matter where I look,
Human beings make mistakes, ... I know of no supervisory action we can take that will prevent that. I know of no legislation to help us prevent them from making dumb mistakes.