Demand has been growing quite strongly in recent months, and the (Fed monetary-policy committee) will have to judge whether that pace of expansion will be maintained (and), if so, whether it will continue to be met by solid productivity growth, as it apparently has been.
More Quotes from Alan Greenspan:
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.Alan Greenspan
But as we struggle to make sense of our profound loss and its immediate consequences for the economy, ... we must not lose sight of our longer-run prospects, which have not been significantly diminished by these terrible events.
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The United States is currently in its ninth year of economic expansion, an exemplary accomplishment by any standard. Growth of output has remained vigorous, unemployment is lower than it has been in nearly thirty years, and yet, despite the tautness in labor markets, there have been no obvious signs of emerging inflation pressures,
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Before the crisis broke, there was little reason to question the three decades of phenomenally solid East Asian economic growth, largely financed through the banking system, so long as the rapidly expanding economies and bank credit kept the ratio of non-performing loans to total bank assets low,
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Anything that we can do to raise personal savings is very much in the interest of this country.
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