Alan Greenspan Quotes (280 Quotes)


    The good news is that evidence is becoming more persuasive that our electronic infrastructure will be ready for the Century Date Change, ... The public's understanding of the degree of our Y2K readiness also has grown, and fears of widespread disruptions around the CDC appear to be waning, though we are not as yet home free.

    Maybe he will act more to target inflation and be more strict

    Our analysis of economic developments almost surely will need to deal in greater detail with balance sheet considerations than was the case in the earlier decades of the postwar period,

    Nowhere in the world are the synergies of small and large businesses operating side-by-side in a dynamic market economy more apparent than in this country.

    If we allow terrorism to undermine our freedom of action, we could reverse at least part of the palpable gains achieved by postwar globalization. It is incumbent upon us not to allow that to happen,


    I don't know where the stock market is going, but I will say this, that if it continues higher, this will do more to stimulate the economy than anything we've been talking about today or anything anybody else was talking about.

    The problems that we have seen are, in one sense, more domestic than they are international,

    The more flexible an economy, the greater its ability to self-correct in response to inevitable, often unanticipated, disturbances and thus to contain the size and consequences of cyclical imbalances.

    Such an increase in market value is too often viewed by market participants as structural and permanent, ... To some extent, those higher values may be reflecting the increased flexibility and resilience of our economy.

    The hey day when a high school or college education would serve a graduate for a lifetime is gone, ... Today's recipients of diplomas expect to have many jobs and to use a wide range of skills over their working lives.

    The recent data still exhibit deterioration, ... The question of most fundamental importance is how long will that continue and where will it spread, and where will the stampede of buffalo stamp all over us before we can stem this.

    The likelihood is that we shall be seeing some lower prices on imported goods as a result of the difficulties in Asia, ... But they will not permanently suppress the risks inherent in the tightened labor markets.

    there are mechanisms in place that should help to slow the growth of spending to a pace more consistent with that of potential output growth.

    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.

    Six weeks after the beginning of the war, we have only limited readings on broader economic conditions, and that information has been mixed,

    How do we know when irrational exuberance has unduly escalated asset values ... We should not underestimate or become complacent about the complexity of the interactions of asset markets and the economy.


    The level of equity prices would appear to envision substantially greater growth of profits than has been experienced of late,

    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.

    Indeed only such highly liquid portfolios would be consistent with (government-sponsored enterprises') mission of providing primary mortgage market liquidity during a crisis, particularly a financial crisis,

    Further development of China's trading relationships with the United States and other industrial countries will work to strengthen the rule of law within China and to firm its commitment to economic reform,

    It is decidedly not true that nice guys finish last, as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.

    To develop a financial center ... the issue isn't interest of developing infrastructure.

    I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.

    The vast majority of homeowners have a sizable equity cushion with which to absorb a potential decline in house prices,

    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,

    How can we ignore the fact that virtually all forecasts of the budget balance have been wide of the mark in recent years.

    The economic and financial world is changing in ways that we still do not fully comprehend, ... Policymakers accordingly cannot always count on an ability to anticipate potentially adverse developments sufficiently in advance to effectively address them.

    A gradual reduction over time of the GSE portfolios should be a non-event to investors and market participants, other than GSE shareholders,

    some drop-off in those earnings from Asia in the period ahead. In addition, there will be indirect effects on the U. S. real economy.

    the weight of incoming evidence persuasively suggest on oncoming intensification of inflation pressures.

    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,

    I think people are going to be quite surprised at their heating bills this winter,

    A slowing in the rate of inventory liquidation will induce a rise in industrial production if demand for those products is stable or is falling only moderately, ... That rise in production will, other things being equal, increase household income and spending.

    Indeed, our goal, in responding to the complexity of current economic forces, is to extend the expansion by containing imbalances and avoiding the very recession that would complete a business cycle,

    Investing a portion of the Social Security trust fund assets in equities as the administration and others have proposed would arguably put at risk the efficiency of our capital markets and, thus, our economy,

    fully appreciate the risk that some households may have trouble meeting monthly payments as interest rates and the macroeconomic climate change.

    Protectionism in all its guises, both domestic and international, does not contribute to the welfare of American workers, ... At best, it is a short-term fix at a cost of lower standards of living for the nation as a whole.

    The odds ... increasingly favor a revival in job creation,

    By the measure of what benefits consumers, such enterprises should not be discouraged,

    Concentration and other risks in holding dollar balances seem to have become a consideration at least for some investors,

    as many uncertainties over the next 18 years as it has over the past 18.

    An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions. They seem to sense... that gold and economic freedom are inseparable.

    Surely difficult challenges lie ahead for the Fed, some undoubtedly of our own making, and others that will be thrust on us by market or other forces,

    That greater tendency toward self-correction has made the cyclical stability of the economy less dependent on the actions of macroeconomic policy makers, whose responses often have come too late or have been misguided.

    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.

    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.

    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,

    Our operating procedures, as you suggest, do tend to smooth out short-run fluctuations in short-term interest rates,

    Today, economic value is best symbolized by exceedingly complex, miniaturized integrated circuits and the ideas -- the software -- that utilize them, ... Most of what we currently perceive as value and wealth is intellectual and impalpable.


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