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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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.
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Economic policymakers face enormous uncertainty. Economic models provide a set of useful tools to frame future outcomes, but as we were reminded repeatedly during our efforts to forecast the economy in 1974 and 1975, models can go off track in myriad ways, ... Objective and thorough analysis ... is the most effective counterweight to this challenge.
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The addition of the Chinese economy to the global marketplace will result in a more efficient worldwide allocation of resources and will raise standards of living in China and its trading partners,
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That greater tendency toward self-correction has made the cyclical stability of the economy less dependent on the actions of macroeconomic policy makers, whose responses often have come too late or have been misguided.
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...In an economy that already has lost some momentum, one must remain alert to the possibility that greater caution and weakening asset values in financial markets could signal or precipitate an excessive softening in household and business spending,
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The U.S. economy appears to have withstood a set of blows -- major declines in equity markets, a sharp retrenchment in investment spending, and the tragic terrorist attacks of last September -- that in previous business cycles almost surely would have induced a severe contraction,
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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,
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is scheduled to discuss the flexibility of the U.S. economy and its resilience to shocks, a topic he addressed two weeks ago.
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is larger than that of Japan, and may be approaching half the size of the American economy.
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a distinguished appointment. Ben comes with superb academic credentials and important insights into the ways our economy functions.
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The one certainty is that the resolution of the nation's demographic challenge will require hard choices and that the future performance of the economy will depend on those choices.
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Nowhere in the world are the synergies of small and large businesses operating side-by-side in a dynamic market economy more apparent than in this country.
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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.
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Demand may be moving closer into line with the rate of advance in the economy's potential, given our continued impressive productivity growth, ... Should this favorable outcome prevail, the immediate threat to our prosperity from growing imbalances in our economy would abate.