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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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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As I indicated several weeks ago to a university audience, ... it is just not credible that the United States, or for that matter Europe, can remain an oasis of prosperity unaffected by a world that is experiencing greatly increased stress.
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The United States has been in the forefront of the postwar opening up of international markets, much to our, and the rest of the world's, benefit, ... It would be a great tragedy were that process reversed.
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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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Somewhat to my surprise, this came out as a far more robust relationship, indicating the greater the deficit, the greater the long-run interest rate,
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Our analysis of economic developments almost surely will need to deal in greater detail with balance sheet considerations than was the case in the earlier decades of the postwar period,
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Lower equity prices and higher financing costs should damp household and business spending, and greater uncertainty and risk aversion may also lead to more cautious spending behavior,
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The demand for new computer applications will no doubt continue to spur demand for those with the creativity and the higher-level conceptual skills that will enable us to increasingly harness technology to produce greater economic value,
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This period of sub-par economic growth is not yet over, and we are not free of the risk that economic weakness will be greater than currently anticipated, requiring further policy response,
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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.
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I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
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We at the Federal Reserve have greatly benefited from his perspective and keen insights.
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Putin probably, almost certainly, thinks that one of the great disasters of the 20th century was the demise of the Soviet Union. It's very obvious that he's trying to work its way back and maintain something similar to that sort of institution.