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
To date, interest-sensitive spending has remained robust and the FOMC (Federal Open Market Committee) will have to stay alert for signs that real interest rates have not yet risen enough to bring the growth of demand into line with that of potential supply, even should the acceleration in productivity continue,
have rarely fallen and certainly not by very much.
We don't endeavor to manipulate the bond market to act as a proxy, ... The major reason is we wouldn't know how.
While actual CPI inflation has picked up this year, this rise has not been mirrored uniformly in other broad price measures,
the amount of rate cuts required to revive the economy will not be deep.
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 .
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.
I fear that the failure to expense stock option grants has introduced a significant distortion in reported earnings,
I don't think we did pop the bubble. We did raise interest rates in 1999, and the reason we did that is that real long-term rates were beginning to rise because the economy was beginning to accelerate,
However, Seoul is clearly of developing in this ... and I expect Seoul gradually make this way to become international financial center.
How significant and disruptive such adjustments turn out to be is an open question,
I cannot say we have made comments we can essentially deliver.
I do not deny that many appear to have succeeded in a material way by cutting corners and by manipulating associates, both in their professional and in their personal lives. But material success is possible in this world and far more satisfying when it comes without exploiting others.