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
ability balance financial ingredient key markets needed preserve risk safe size sound support united
Without the needed restrictions on the size of the GSE balance sheets, we put at risk our ability to preserve safe and sound financial markets in the United States, a key ingredient of support for housing,
beings confronted dealing economic elements goes human means money people pull sound straight system
What a sound money system does is to stabilize all the elements in it, and reduces the uncertainty that people confront. And the one thing all human beings do when they are confronted with uncertainty is pull back, withdraw, disengage, and that means economic activity, which is really dealing with people, just goes straight down.
bright continue emphasize face near picture reasons remains risks sound
There are sound reasons for concluding that the long-run picture remains bright ... but I would emphasize that we continue to face significant risks in the near term,
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Governor Kelley is a man of the highest principle, ... I will miss his wise counsel. In his fourteen years on the Board, he has given more than sound judgment and hard work; he has given us the gift of his friendship.
good moving pressures reasonably
Inflationary pressures will be reasonably well contained, so long as productivity is moving at a reasonably good clip,
benefits continuing derived distinct existing extent far growth high increase plus potential rates remain support technology total
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,
avoiding business complete complexity containing current economic expansion extend recession responding
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,
consistent financial government highly indeed liquid market mission mortgage primary providing
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,
consistent financial highly liquid market mission mortgage primary providing
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,
cost countries deter guarantee likely might principal vulnerable
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.
create creates economy economy-and-economics enhance growth higher modest quantities rate serious standards
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.
sidelines
I know this institution will go on doing extraordinary things, and I will look on from the sidelines and cheer.
analysis economic economy effective efforts enormous face forecast frame future models myriad objective provide reminded repeatedly thorough tools track useful
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.
checked continue general growth level margin price sustained
Still-significant productivity growth and a sizable margin of underutilized resources, to date, have checked any sustained acceleration of the general price level and should continue to do so for a time,