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
cost countries deter guarantee likely might principal vulnerable
in more vulnerable countries where (the principal bank's) guarantee is more likely to be called upon and (where) cost might deter some aberrant borrowing.
account adjust assets concentration cost current deficit dollar eventually financing higher investors less offset returns seek situation
This situation suggests that international investors will eventually adjust their accumulation of dollar assets or, alternatively, seek higher dollar returns to offset concentration risk, elevating the cost of financing of the U.S. current account deficit and rendering it increasingly less tenable,
both contribute cost domestic fix living lower nation standards welfare
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.
aversion business cautious costs equity financing greater higher household lead lower prices risk spending
Lower equity prices and higher financing costs should damp household and business spending, and greater uncertainty and risk aversion may also lead to more cautious spending behavior,
although arguably cost generally options superior treatment
Although this treatment of the cost of options is not ideal, it is arguably superior to their treatment in shareholder reports, where options are generally not expensed at all,
associated businesses costs employment europe expanding face higher hiring investment japan less potential rates return risks workers
The rates of return on investment in the same new technologies are correspondingly less in Europe and Japan because businesses there face higher costs of displacing workers than we do, ... Moreover, because our costs of dismissing workers are lower, the potential costs of hiring and the risks associated with expanding employment are less.
behavior costs favorable few labor maintained past quite several trends turned unit whether
Over most of the past several years, the behavior of unit labor costs has been quite subdued, ... But those costs have turned up of late, and whether the favorable trends of the past few years will be maintained is unclear.
good moving pressures reasonably
Inflationary pressures will be reasonably well contained, so long as productivity is moving at a reasonably good clip,
benefits continuing derived distinct existing extent far growth high increase plus potential rates remain support technology total
Indications that the extent of the application of existing technology is still far from complete, plus potential benefits derived from continuing synergies, support a distinct possibility that total productivity growth rates will remain high or even increase further,
avoiding business complete complexity containing current economic expansion extend recession responding
Indeed, our goal, in responding to the complexity of current economic forces, is to extend the expansion by containing imbalances and avoiding the very recession that would complete a business cycle,
consistent financial government highly indeed liquid market mission mortgage primary providing
Indeed only such highly liquid portfolios would be consistent with (government-sponsored enterprises') mission of providing primary mortgage market liquidity during a crisis, particularly a financial crisis,
consistent financial highly liquid market mission mortgage primary providing
Indeed, only such highly liquid portfolios would be consistent with (government-sponsored enterprises') mission of providing primary mortgage market liquidity during a crisis, particularly a financial crisis,
create creates economy economy-and-economics enhance growth higher modest quantities rate serious standards
in modest quantities does enhance the rate of growth of the economy and does create higher standards of living, but in excess, creates very serious problems.
sidelines
I know this institution will go on doing extraordinary things, and I will look on from the sidelines and cheer.