They then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.
ALAN GREENSPANThe gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
More Alan Greenspan Quotes
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The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.
ALAN GREENSPAN -
The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed.
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We will have more crises and none of them will look like this because no two crises have anything in common except human nature.
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In an economy that already has lost some momentum, one must remain alert to the possibility that greater caution and weakening asset values in financial markets could signal or precipitate an excessive softening in household and business spending.
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If prices go down, we will have problems – problems in the sense of spillover to other areas.
ALAN GREENSPAN -
These days, even out of office, I still read economic reports.
ALAN GREENSPAN -
The number of mistakes I have made are just awesome. There is no number large enough to account for that.
ALAN GREENSPAN -
I don’t think it’s possible for the Fed to end its easy-money policies in a trouble-free manner.
ALAN GREENSPAN -
It signals problems with respect to currency markets. Central banks should pay attention to it.
ALAN GREENSPAN -
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.
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Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset.
ALAN GREENSPAN -
I’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world.
ALAN GREENSPAN -
Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
ALAN GREENSPAN -
I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.
ALAN GREENSPAN -
Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
ALAN GREENSPAN