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 system worked. Moreover, following September 11, 2001, we found that the Y2K preparations and fixes had far-greater reach than we had realized,
The system was holding up ... the American economy kept getting battered and battered and battered and it was still standing and indeed, as of Sept. 10, it was still standing,
Protectionism in all its guises, both domestic and international, does not contribute to the welfare of American workers, ... At best, it is a short-term fix at a cost of lower standards of living for the nation as a whole.
rare occasion, warranted because of the potential for serious disruptions to markets.
Profoundly beneficial forces driving the American economy to competitive excellence are also engendering a set of imbalances that, unless contained, threaten our continuing prosperity,
profound implications for the free world's trading system and the long-term growth potential of the American economy.
Our analysis of economic developments almost surely will need to deal in greater detail with balance sheet considerations than was the case in the earlier decades of the postwar period,
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,
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.
If we delay, the adjustments could be abrupt and painful,
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!
One may aspire to succeed Chairman Greenspan, but it will not be possible to replace him.
My basic concern, ... is that, if we are forced to implement a very significant unilateral tariff, the dangers to the overall international financial system, in my judgment, are very large.
More uncertainty, however, surrounds the outlook for inflation,