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
Because it is difficult to suppress growing market exuberance when the economic environment is perceived as more stable, a highly flexible system needs to be in place to rebalance an economy in which psychology and asset prices could change rapidly,
difficult to suppress growing market exuberance when the economic environment is perceived as more stable.
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,
But, given our current state of knowledge, I find it difficult to envision central banks successfully targeting asset prices any time soon,
Lowering the deficit further in the near term, however, will be difficult in light of the need to pay for post-hurricane reconstruction and relief,
I find it difficult to find rational arguments for that particular initiative,
I find it difficult to believe, for example, that the crises that arose in Thailand and Korea would have been nearly so virulent had their central banks published data prior to the crises on net reserves instead of the not very informative gross reserve positions only,
Productivity is notoriously difficult to predict.
It is becoming increasingly difficult to deny that something profoundly different than the postwar business cycle has emerged in recent years,
Surely difficult challenges lie ahead for the Fed, some undoubtedly of our own making, and others that will be thrust on us by market or other forces,
Because the pay-as-you-go system will be very difficult to manage, we need an alternative,
hesitancy to face up to the difficult choices that will be required to resolve our looming fiscal problems.
The economy is turning, and credit comes in with a lag, ... To the extent that a number of small firms are finding it difficult to get the credit they need at a price they can afford, that's likely to change for the better.
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.