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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If we can maintain an adequate degree of flexibility, some of America 's economic imbalances, most notably the large current account deficit and the housing boom, can be rectified by adjustments in prices, interest rates, and exchange rates rather than through more-wrenching changes in output, incomes, and employment.
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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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Over the past decade, the U.S. economy has benefited from a remarkable acceleration of productivity. But experience suggests that such rapid advances are unlikely to be maintained in an economy that has reached the cutting edge of technology.
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Over most of the past several years, the behavior of unit labor costs has been quite subdued, ... But those costs have turned up of late, and whether the favorable trends of the past few years will be maintained is unclear.
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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.
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The trend of existing home sales has been relatively flat at a reasonable high level for quite a long period of time, and if we can maintain that we are doing well,
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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.
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we have seen how lax standards, excesses, or fraud can cause disproportionate losses to insurance funds.
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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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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,
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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.
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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.
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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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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,