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.
More Quotes from Alan Greenspan:
helped to lower risk premiums on debt and have contributed importantly to the favorable investment environment.Alan Greenspan
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,
Alan Greenspan
How can we ignore the fact that virtually all forecasts of the budget balance have been wide of the mark in recent years.
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.
Alan Greenspan
It has been an extraordinary privilege to be able to serve my country at the Federal Reserve, and I would be honored if the Senate saw fit to enable me to continue this association for another four years,
Alan Greenspan
Although this treatment of the cost of options is not ideal, it is arguably superior to their treatment in shareholder reports, where options are generally not expensed at all,
Alan Greenspan
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