Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
ALAN GREENSPANI think that real pressure is going to occur not by the initiation by the Federal Reserve, but by the markets themselves.
More Alan Greenspan Quotes
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I’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
ALAN GREENSPAN -
Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
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Crony capitalism is essentially a condition in which… public officials are giving favours to people in the private sector in payment of political favours.
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Whatever you tax you get less of.
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We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures.
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The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake.
ALAN GREENSPAN -
This decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets.
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Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity.
ALAN GREENSPAN -
Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
ALAN GREENSPAN -
There is nothing to guarantee the superior judgment, knowledge, and integrity of an inspector or a bureaucrat-and the deadly consequences of entrusting him with arbitrary power are obvious.
ALAN GREENSPAN -
I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
ALAN GREENSPAN -
I’m a better economist than I was a sax player.
ALAN GREENSPAN -
Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
ALAN GREENSPAN -
What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn’t be taking it to those who are willing to and are capable of doing so.
ALAN GREENSPAN