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
The impressive performance of the U.S. economy over the past couple of decades, despite shocks that in the past would have produced marked economic contractions, offers the clearest evidence of the benefits of increased market flexibility,
The imbalance in the federal budgetary situation, unless addressed soon, will pose serious longer-term fiscal difficulties,
A good part of this expansion is a direct function of the decline in real equity premiums. That cannot go on indefinitely.
A gradual reduction over time of the GSE portfolios should be a non-event to investors and market participants, other than GSE shareholders,
The type of economy that we are dealing with at this particular stage is, I suspect, one that none of us has seen before, and indeed it may be unprecedented in our history, ... Our basic purpose is to keep that process going.
These products could be cause for some concern both because they expose borrowers to more interest-rate and house-price risk than the standard 30-year, fixed-rate mortgage and because they are seen as vehicles that enable marginally qualified, highly leveraged borrowers to purchase homes at inflated prices,
All I would say is that when you're getting out that far, there will be lots of adjustments,
The housing boom will inevitably simmer down, ... As part of that process, house turnover will decline from currently historic levels, while home price increases will slow and prices could even decrease.
... the flexibility of our market-driven economy has allowed us, thus far, to weather reasonably well the steep rise in spot and futures prices for crude oil and natural gas that we have experienced over the past two years,
The determination of global economic activity in recent years has been influenced importantly by capital gains on various types of assets, and the liabilities that finance them. Our forecasts and hence policy are becoming increasingly driven by asset price changes.
an array of influences unique to this business cycle, however, seems likely to moderate the speed of the anticipated recovery.
The markets are demanding that we change outdated statutory limitations that stand in the way of more efficiently and effectively delivering financial services to the public, ... The Federal Reserve agrees and urges prompt enactment of financial modernization legislation.
The level of equity prices would appear to envision substantially greater growth of profits than has been experienced of late,
The likelihood is that we shall be seeing some lower prices on imported goods as a result of the difficulties in Asia, ... But they will not permanently suppress the risks inherent in the tightened labor markets.