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
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,
balance credit demands expansion federal forces funds gradually held interest last level market otherwise past raising rate rates required reserve rose
The Federal Reserve has responded to the balance of market forces by gradually raising the federal funds rate over the past year, ... Certainly, to have done otherwise -- to have held the federal funds rate at last year's level even as credit demands and market interest rates rose -- would have required an inappropriately inflationary expansion of liquidity.
appears developing economic expansion remarkably stellar
While this stellar non-inflationary economic expansion still appears remarkably stress-free on the surface, there are developing imbalances that give us pause,
apparently continue demand expansion growing judge maintained met pace quite recent solid strongly whether
Demand has been growing quite strongly in recent months, and the (Fed monetary-policy committee)? will have to judge whether that pace of expansion will be maintained (and), if so, whether it will continue to be met by solid productivity growth, as it apparently has been.
although appears drag economic energy expansion firm global path prices reasonably recent summer
Although the global economic expansion appears to have been on a reasonably firm path through the summer months, the recent surge in energy prices will undoubtedly be a drag from now on.
unique way expansion
The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed
capital change dramatic eventually expansion investment judgment level number slow ways
Our judgment is that the level of consumption growth...will slow down, and the dramatic expansion in capital investment will slow down, ... Something will eventually change the pattern, but there are a number of different ways that can happen.
behind cannot concerns conclude domestic expansion final line pace potential slower soon sure
It is much too soon to conclude that these concerns are behind us, ... We cannot yet be sure that the slower expansion of domestic final demand, at a pace more in line with potential supply, will persist.
cannot decline direct equity expansion function good
A good part of this expansion is a direct function of the decline in real equity premiums. That cannot go on indefinitely.
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,
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,
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.