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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As the value of assets and liabilities have risen relative to income, we have been confronted with the potential for our economies to exhibit larger and perhaps more abrupt responses to changes in factors affecting the balance sheets of households and businesses,
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I am fully aware of the fact that it may not be possible to keep the tax rate down and still maintain some semblance of deficit control, ... But ... I would strongly recommend that the priority of evaluations start with the expenditure side: what can be constrained, what can be reduced.
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When we see significant, dramatic changes ... we are skeptical as indeed we should be, ... bring together all of the facts we can marshal and the most sophisticated insights to explain those facts that we can.
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The physical assets of such a firm comprise a small proportion of its asset base, ... Trust and reputation can vanish overnight. A factory cannot.
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Financial markets, along with households and businesses, seem to be reasonably well prepared to cope with a transition to a more neutral stance of monetary policy, ... Although many factors may affect inflation in the short-run, inflation in the long-run, it is important to remind ourselves, is a monetary phenomenon.
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It's too soon in the fourth quarter to make very many judgments, but despite the fact that we clearly have been shocked by the tragedy of September 11, there is no evidence at this stage from the data we have to date that there will be a decline in the fourth quarter,
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The Fact that our economical models at The Fed, the best in the world, have been wrong for fourteen straight quarters, does not mean they will not be right in the fifteenth quarter
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Before I met Ayn Rand, I was a logical positivist, and accordingly, I didn't believe in absolutes, moral or otherwise. If I couldn't prove a proposition with facts and figures, it was without merit.
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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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The only thing that was economic, I might say, about my music career, aside from the fact that I did everybody's tax returns in the band, was the decision I made to leave the music business on economic grounds.
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I always believed in animal spirits. It's not their existence that is new. It's the fact that they are not random events, but actually replicate in-bred qualities of human nature which create those animal spirits.
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I've been around long enough to know that a good deal of the praise heaped on me I had nothing to do with. The only thing I did object to was the fact that where the criticism was actually wrong. Did it bother me? Of course it bothered me. But I've been around long enough to have ups and downs. So you get over it.
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There is a huge number of people outside our borders who would love to come here. In fact, many of them come here, get well educated, and then are required to leave... This is a factor in income inequality.
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has got to be a factor in determining the propensity of people to spend money.