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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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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With regard to margin requirements, studies suggest that changes in such requirements have no appreciable and predictable effect on stock prices, ... Nonetheless, the Federal Reserve recognizes that considerable risks can be involved in the purchase of equity on margin, especially in volatile markets, and believes lenders and borrowers need to assess carefully the risks they are assuming through the use of margin.
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As a consequence of our current dependence on computers, some Y2K-related failures could have noticeable effects on the economy,
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The bottom line, however, is that, while immigration and imports can significantly cushion the consequences of the wealth effect and its draining pool of unemployed workers for awhile, there are limits,
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Technology is also damping upward price pressures through its effect on international trade,
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Nobody has the capacity to fathom fully how the effects of the tragedy of Sept. 11 will play out in our economy,
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The fact of the matter is, we do not have an unlimited amount of labor, ... the wealth effect cannot persist indefinitely.
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In principle, stock-option grants, properly constructed, can be highly effective in aligning corporate officers' incentives with those of shareholders, ... Regrettably, the current accounting for options has created some perverse effects on the quality of corporate disclosures that, arguably, is further complicating the evaluation of earnings.
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We are seeing the first signs of erosion at the edges, especially in manufacturing. That's a signal that the effects of East Asia and Russia on our financial system are increasingly a factor.
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He has been one of the most effective secretaries of the Treasury in this nation's history,
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The effects of the present merger wave are yet to be determined, ... But, unless a relationship between bigness and market concentration can be more firmly rooted in anti-competitive behavior, bigness, per se, does not appear to be an issue for national economic policy.
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Inflationary pressures will be reasonably well contained, so long as productivity is moving at a reasonably good clip,
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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,
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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,