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
assess assuming believes borrowers carefully changes effect equity federal involved margin purchase recognizes regard reserve risks stock studies suggest volatile
With regard to margin requirements, studies suggest that changes in such requirements have no appreciable and predictable effect on stock prices, ... Nonetheless, the Federal Reserve recognizes that considerable risks can be involved in the purchase of equity on margin, especially in volatile markets, and believes lenders and borrowers need to assess carefully the risks they are assuming through the use of margin.
financial highly imparting interest operation potential rate requires risk
Because it is a highly leveraged operation and one which requires very sophisticated hedging of interest rate risk, it's imparting a significant potential systemic risk to the American financial system,
balances concentration dollar holding risks seem
Concentration and other risks in holding dollar balances seem to have become a consideration at least for some investors,
despite economy economy-and-economics firm inflation reasonably remains risks seems underlying
Despite some of the risks that I have highlighted, the U.S. economy seems to be on a reasonably firm footing, and underlying inflation remains contained,
among economic exemplary mistrust notable performance policy recent risk runs standard
Any notable shortfall in economic performance from the exemplary standard of recent years runs the risk of reviving mistrust of market-oriented systems, even among conventional policy makers,
alert indeed risks
Policymakers will need to be on the alert for oil-driven, indeed energy-driven, risks to our expansion, ... firm.
aversion business cautious costs equity financing greater higher household lead lower prices risk spending
Lower equity prices and higher financing costs should damp household and business spending, and greater uncertainty and risk aversion may also lead to more cautious spending behavior,
currently economic free further greater growth period policy requiring risk weakness
This period of sub-par economic growth is not yet over, and we are not free of the risk that economic weakness will be greater than currently anticipated, requiring further policy response,
resolve risk risky
It is risky, ... It's risky doing nothing. It's risky doing any other solution. ... I know no way to resolve this without risk.
aversion came created default economy-and-economics evolving learning ought process risk russian seeing structure time trauma works
We are seeing an evolving new international economy. We are in the process of learning how it works as we are doing it, ... Fortunately, the trauma that came out of the Russian default created so much risk aversion ... we probably have time to be deliberative in determining how the (international monetary) structure ought to be structured.
affect aggregate alignment assisted benefits demand economic federal financial full growth innovative market necessary potential risk until vigilant
Until market forces, assisted by a vigilant Federal Reserve, affect the necessary alignment of aggregate demand with the growth of potential aggregate supply, the full benefits of innovative productivity acceleration are at risk of being undermined by financial and economic instability,
believe risk growth
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.
risk may banking
Indeed, better risk management may be the only truly necessary element of success in banking.
jobs skills risk
At the risk of some oversimplification, if the skill composition of our work force meshed fully with the needs of our increasingly complex capital-stock, wage-skill differentials would be stable, and the percentage changes in wage rates would be the same for all job grades.