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
The probability of an unwelcome substantial fall in inflation over the next few quarters, though minor, exceeds that of a pickup in inflation.
as many uncertainties over the next 18 years as it has over the past 18.
I find it utterly inconceivable, frankly, that we can have the type of potential fiscal outlook, which now confronts us over the next 15 to 20 years which, unless addressed, will not have a significant impact on long-term interest rates,
Instead of trying to contain a putative bubble by drastic actions with largely unpredictable consequences, we chose, as we noted in our mid-1999 congressional testimony, to focus on policies to mitigate the fallout when it occurs and, hopefully, ease the transition to the next expansion.
We owe it to those who will retire over the next couple of decades to promise only what the government can deliver,
Inflationary pressures will be reasonably well contained, so long as productivity is moving at a reasonably good clip,
Indications that the extent of the application of existing technology is still far from complete, plus potential benefits derived from continuing synergies, support a distinct possibility that total productivity growth rates will remain high or even increase further,
Indeed, our goal, in responding to the complexity of current economic forces, is to extend the expansion by containing imbalances and avoiding the very recession that would complete a business cycle,
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,
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,
in more vulnerable countries where (the principal bank's) guarantee is more likely to be called upon and (where) cost might deter some aberrant borrowing.
in modest quantities does enhance the rate of growth of the economy and does create higher standards of living, but in excess, creates very serious problems.
I know this institution will go on doing extraordinary things, and I will look on from the sidelines and cheer.
Economic policymakers face enormous uncertainty. Economic models provide a set of useful tools to frame future outcomes, but as we were reminded repeatedly during our efforts to forecast the economy in 1974 and 1975, models can go off track in myriad ways, ... Objective and thorough analysis ... is the most effective counterweight to this challenge.