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
There have been signs recently that some of the forces that have been restraining the economy over the past year are starting to diminish and that activity is beginning to firm,
We at the Federal Reserve, recognizing the powerful forces of productivity growth and global restraint on inflation, have not perceived to date the need to tighten policy,
Over the last few months, these forces have taken their toll on activity, and evidence has accumulated that the economy has hit a soft patch,
through education and training, not by restraining the competitive forces that are so essential to overall rising standards of living of the great majority of our population.
the possibility that the forces from Asia might damp activity and prices by more than is desirable.
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.
Profoundly beneficial forces driving the American economy to competitive excellence are also engendering a set of imbalances that, unless contained, threaten our continuing prosperity,
we have seen how lax standards, excesses, or fraud can cause disproportionate losses to insurance funds.
The physical assets of such a firm comprise a small proportion of its asset base, ... Trust and reputation can vanish overnight. A factory cannot.
We think that coming up on a regular scheduled basis ... has been very productive, ... It requires us ... to have a structure of policy that is coherent to the Congress.
We've come a long way through this adjustment process and we're still standing and that's good news, ... is still not doing well but (is) far better given what has happened than I would have forecast six, eight, nine months ago.
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.
We at the Federal Reserve have greatly benefited from his perspective and keen insights.
weathered reasonably well the steep rise in spot and futures prices for oil and natural gas.