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
There appears to be enough evidence, at least tentatively, to conclude that our strategy of addressing the bubble's consequences rather than the bubble itself has been successful,
Many homeowners might have saved tens of thousands of dollars had they held adjustable-rate mortgages rather than fixed-rate mortgages during the past decade.
I suspect that with the underlying database publicly available, it is just a matter of time before the ex-post results of analysts recommendations are compiled and published on a regular basis, ... I venture to say that with such transparency, the current upward bias of analysts' earnings projections would diminish rather rapidly.
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.
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.
The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.