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
At present, the Social Security trustees estimate that the unfunded liability over the indefinite future to be $10.4 trillion, ... The shortfall in Medicare is calculated at several multiples of the one in Social Security.
Over most of the past several years, the behavior of unit labor costs has been quite subdued, ... But those costs have turned up of late, and whether the favorable trends of the past few years will be maintained is unclear.
The only way to have several currencies from divergent nations lumped together is if they are culturally close, such as Germany, the Netherlands and Austria. If they aren't, it simply can't continue to work.
But it is clear that, for the time being at least, the increase in spending on consumer goods and houses has come down several notches, albeit from very high levels.
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.
The changes in the budget outlook over the past several years are truly remarkable, ... We need to resist those policies that could readily resurrect the deficits of the past and the fiscal imbalances that followed in their wake.
we have seen how lax standards, excesses, or fraud can cause disproportionate losses to insurance funds.
The physical assets of such a firm comprise a small proportion of its asset base, ... Trust and reputation can vanish overnight. A factory cannot.
There have been signs recently that some of the forces that have been restraining the economy over the past year are starting to diminish and that activity is beginning to firm,
We think that coming up on a regular scheduled basis ... has been very productive, ... It requires us ... to have a structure of policy that is coherent to the Congress.
We've come a long way through this adjustment process and we're still standing and that's good news, ... is still not doing well but (is) far better given what has happened than I would have forecast six, eight, nine months ago.
We are seeing the first signs of erosion at the edges, especially in manufacturing. That's a signal that the effects of East Asia and Russia on our financial system are increasingly a factor.
We at the Federal Reserve, recognizing the powerful forces of productivity growth and global restraint on inflation, have not perceived to date the need to tighten policy,
We at the Federal Reserve have greatly benefited from his perspective and keen insights.