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
will almost surely be reported as one of the largest advances, if not the largest, posted over the past 30 years.
We need to recognize that we really do not know the answer for this immediate period.
We have obviously specified implicitly that we prefer to act within our scheduled meetings, ... But we have also shown over the years that when we perceive that actions are required between meetings we have never hesitated to move.
will undoubtedly be a drag from now on.
Threats of deflation, which were a significant concern last year, by all indications are no longer an issue before us, ... That clearly is a change that's occurred in the last number of weeks, and it's a change ... that's been long overdue and is most welcome.
While the adjustments may be difficult for a time, these crises will pass. Stronger individual economies and a more robust and efficient international economic and financial system will surely emerge in their wake,
We can be confident that new jobs will displace old ones as they always have, but not without a high degree of pain for those caught in the job-losing segment of America's massive job-turnover process,
We are not starting off with the proposition that inflation is a big bogey and that we will construct all sorts of arguments ... thwart it,
We have a way to go. We're not there yet.
We have a very special mission. We are in charge of the nation's currency and the central bank, because of that, is involved in everyone's daily lives. We are the guardians of their purchasing power.
We have a moral obligation to use our prosperity at this moment, especially to uplift communities in poverty,
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),
Today, economic value is best symbolized by exceedingly complex, miniaturized integrated circuits and the ideas -- the software -- that utilize them, ... Most of what we currently perceive as value and wealth is intellectual and impalpable.