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
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.
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,
What is not clear is whether the market values that are being placed on particular assets involved in this technology revolution are appropriately priced.
It's too soon in the fourth quarter to make very many judgments, but despite the fact that we clearly have been shocked by the tragedy of September 11, there is no evidence at this stage from the data we have to date that there will be a decline in the fourth quarter,
If I've made myself clear, I've misspoken.
What I see in the corporate sector is very clearly an issue of a major shortfall in the issue of, what some people call confidence, but whatever you want to call it. Clearly people are looking out in the very distant future and they are saying that it is too complex.
Although the tendency in recent months toward stabilization in the East Asian economies is encouraging, clearly those economies are not out of the woods, as recent events attest,
The more flexible an economy, the greater its ability to self-correct after inevitable, often unanticipated disturbances, ... The impressive performance of the U.S. economy over the past couple of decades, despite shocks that in the past would have surely produced marked economic contraction, offers the clearest evidence of the benefits of increased market flexibility.
I think that the market is ultimately driven by real forces, ... Once you get a decline started, it's not clear whether people use that as a reason to sell or buy.
But it is clear that, for the time being at least, the increase in spending on consumer goods and houses has come down several notches, albeit from very high levels.
If I seem unduly clear to you, you must have misunderstood what I said.
However, Seoul is clearly of developing in this ... and I expect Seoul gradually make this way to become international financial center.
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,
We have to do it in a cautious, gradual way. ... (We) should go slowly and test the waters.