Lower equity prices and higher financing costs should damp household and business spending, and greater uncertainty and risk aversion may also lead to more cautious spending behavior,
More Quotes from Alan Greenspan:
We cannot rule out a situation in which a preemptive policy tightening becomes necessary, ... Such caution seems especially warranted with regard to the sharp rise in equity prices during the past two years. These gains have obviously raised questions of sustainability.Alan Greenspan
In an environment of weak financial systems, lax supervisory regimes, and vague assurances about depositor or creditor protections, the state of confidence so necessary to the functioning of any banking system was torn asunder.
Alan Greenspan
We need, in effect, to make the phantom 'lock-boxes' around the trust fund real.
Alan Greenspan
With real energy prices on the rise, more rapid decreases in the intensity of energy use in the years ahead seem virtually inevitable,
Alan Greenspan
reductions in demand for our exports and intensified competition from imports. All of this suggests that the growth of economic activity in this country will moderate from the recent brisk pace.
Alan Greenspan
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.
Alan Greenspan
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