What it suggests is that, if you smooth through the noise in the data, we are getting increasing confirmation that something fundamentally important did happen in the latter half of the 1990s, and it gives us some confidence looking into the future,
More Quotes from Alan Greenspan:
By the measure of what benefits consumers, such enterprises should not be discouraged,Alan Greenspan
Most people are so traumatized that the thought of doing anything other than preserving cash is not first on their agenda, ... If you wait too long, you lose your window of opportunity, but there's no need to move forward before the August recess.
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
Over most of the past several years, the behavior of unit labor costs has been quite subdued, ... But those costs have turned up of late, and whether the favorable trends of the past few years will be maintained is unclear.
Alan Greenspan
The United States has been in the forefront of the postwar opening up of international markets, much to our, and the rest of the world's, benefit, ... It would be a great tragedy were that process reversed.
Alan Greenspan
these borrowers, and the institutions that service them, could be exposed to significant losses.
Alan Greenspan
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