We have obviously specified implicitly that we prefer to act within our scheduled meetings, ... But we have also shown over the years that when we perceive that actions are required between meetings we have never hesitated to move.
More Quotes from Alan Greenspan:
Despite the disruptions engendered by the terrorist attacks of Sept. 11, the typical dynamics of the business cycle have reemerged and are prompting a firming in economic activity,Alan Greenspan
But it is clear that, for the time being at least, the increase in spending on consumer goods and houses has come down several notches, albeit from very high levels.
Alan Greenspan
On whether recent gains in housing prices have produce a bubble, ... we certainly cannot rule out home price declines, especially in some local markets, these declines, were they to occur, likely would not have substantial macroeconomic implications.
Alan Greenspan
In the face of energy price spike and the erosion of optimism in financial markets, consumer confidence, or sentiment, appears to be holding up reasonably well to date, though there have been some mixed signals of late.
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History has demonstrated that implicit in any removal of power from central planners and broadening of market mechanisms -- as would occur under WTO -- is a more general spread of rights to individuals,
Alan Greenspan
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,
Alan Greenspan
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