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
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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.
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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,
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fully appreciate the risk that some households may have trouble meeting monthly payments as interest rates and the macroeconomic climate change.
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Further development of China's trading relationships with the United States and other industrial countries will work to strengthen the rule of law within China and to firm its commitment to economic reform,
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I am extraordinarily grateful to Alice Rivlin for her many contributions to the Federal Reserve.
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I am concerned about the recent evident weakening of support for free trade, ... Should we endeavor to freeze competitive progress in place, we will almost certainly slow economic growth overall.
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I am honored to be nominated by President Bush and, if confirmed by the Senate, to continue my service as Chairman of the Board of Governors of the Federal Reserve System.
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I am fully aware of the fact that it may not be possible to keep the tax rate down and still maintain some semblance of deficit control, ... But ... I would strongly recommend that the priority of evaluations start with the expenditure side: what can be constrained, what can be reduced.
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But, given our current state of knowledge, I find it difficult to envision central banks successfully targeting asset prices any time soon,
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But as we struggle to make sense of our profound loss and its immediate consequences for the economy, ... we must not lose sight of our longer-run prospects, which have not been significantly diminished by these terrible events.
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I would clearly prefer that if you can't run the surpluses, you have to get rid of the surpluses, I would far prefer reducing taxes than increasing spending. I don't think it's a close call,
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If we can maintain an adequate degree of flexibility, some of America 's economic imbalances, most notably the large current account deficit and the housing boom, can be rectified by adjustments in prices, interest rates, and exchange rates rather than through more-wrenching changes in output, incomes, and employment.
delay
If we delay, the adjustments could be abrupt and painful,
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I have gotten calls from a number of senior high-tech executives who are telling me that the market is dissolving rapidly before their eyes. But I suspect that a not inconceivable possibility is that what is dissolving in front of their eyes is their own personal net worth!