A slowing in the rate of inventory liquidation will induce a rise in industrial production if demand for those products is stable or is falling only moderately, ... That rise in production will, other things being equal, increase household income and spending.
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As I have said previously to this committee, because of the nature of the type of acceleration in productivity and dynamic change that is occurring in the American economy, my first priority would be to allow as much of the surplus to flow through into a reduction in debt to the public,Alan Greenspan
history cautions that investors' anticipations of the cumulative magnitude of policy actions and their timing under such circumstances are far from perfect.
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He declined to divulge his views on the performance of the International Monetary Fund, saying that is a topic of ongoing discussion with Treasury Secretary Robert Rubin. I don't think it's appropriate for me to discuss what we're discussing, ... When we
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The present policy path makes current promises, at least in real terms, highly conjectural,
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Instead of trying to contain a putative bubble by drastic actions with largely unpredictable consequences, we chose, as we noted in our mid-1999 congressional testimony, to focus on policies to mitigate the fallout when it occurs and, hopefully, ease the transition to the next expansion.
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Lower budget deficits are the surest and most direct way to increase national saving. Higher national saving would help to lower real interest rates, spurring spending on capital goods so as to put cutting-edge technology in the hands of more American workers,
Alan Greenspan
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