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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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,
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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,
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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.
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I'm sorry I used that term. It's one which does suggest a froth in the market place. I would hesitate to use it in today's context.
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If no action is taken at all ... we're going to be confronted within a few years with a marked upward ratcheting of long-term interest rates, which is very debilitating to long-term economic growth,
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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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What is not clear is whether the market values that are being placed on particular assets involved in this technology revolution are appropriately priced.
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Because it is difficult to suppress growing market exuberance when the economic environment is perceived as more stable, a highly flexible system needs to be in place to rebalance an economy in which psychology and asset prices could change rapidly,
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At some point, labor market conditions can become so tight that the rise in nominal wages will start increasingly outpacing the gains in labor productivity, and prices inevitably will then eventually begin to accelerate,
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difficult to suppress growing market exuberance when the economic environment is perceived as more stable.
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The very few times which we have intervened have occurred, ... when we believe the markets are unstable and that intervention might have an impact.
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Nowhere in the world are the synergies of small and large businesses operating side-by-side in a dynamic market economy more apparent than in this country.
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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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Despite the tightest labor markets in a generation, more workers report in a prominent survey that they are fearful of losing their jobs than similar surveys found in 1991 at the bottom of the last recession, ... The marked move of capital from failing to technologies to those at the cutting edge has quickened the pace at which job skills become obsolete.