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
We have a moral obligation to use our prosperity at this moment, especially to uplift communities in poverty,
The problem that exists here is that unless we can close the gap between supply and demand by accelerating productivity, which we are doing in part, then the prosperity that everyone is experiencing would be put in great jeopardy,
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.
Demand may be moving closer into line with the rate of advance in the economy's potential, given our continued impressive productivity growth, ... Should this favorable outcome prevail, the immediate threat to our prosperity from growing imbalances in our economy would abate.
China's progress towards prosperity and accession into the WTO will create new opportunities for American businesses and farmers,
Whether those adjustments are wrenching will depend ... on the degree of economic flexibility that we and our trading partners maintain, and I hope enhance, in the years ahead,
We're going to see some erosion in a number of macroeconomic variables
What they perceive as newly abundant liquidity can readily disappear,
when we are at neutral, we will know it.
Unless the situation is reversed, at some point these budget trends will cause serious economic disruptions,
I believe that the general growth in large [financial] institutions have occurred in the context of an underlying structure of markets in which many of the larger risks are dramatically -- I should say, fully -- hedged.
As long as we issue fiat currency, I see no alternative to a legal tender law.
I have long argued that paying down the national debt is beneficial for the economy: it keeps interest rates lower than they otherwise would be and frees savings to finance increases in the capital stock, thereby boosting productivity and real incomes.
I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.