Former Federal Reserve Chair Alan Greenspan is making the media rounds with a rather dire outlook for the U.S. economy.
Massive government intervention to save the economy is to blame for the lagging recovery, Former Federal Reserve Chairman Alan Greenspan said Tuesday.
Former Federal Reserve chief Alan Greenspan believes Congress should let the tax cuts enacted by President George W. Bush expire for all Americans in order to address the widening deficit, according to a TV interview airing Friday.
Alan Greenspan acknowledged Wednesday that mistakes were made during his long tenure as chairman of the Federal Reserve, but he argued that the low interest rate policy he championed at the central bank didn't inflate the housing bubble.
The slow but steady U.S. economic recovery appears set to continue, with underlying indicators signaling a growing strength, some of the nation's senior economists said Sunday.
The slow but steady U.S. economic recovery appears set to continue, with underlying indicators signaling a growing strength, some of the nation's senior economists said Sunday.
Alan Greenspan acknowledged Thursday that U.S. regulators had failed to grasp the magnitude of the financial crisis, but the former Federal Reserve chairman argued that low interest rates were not to blame for inflating the housing bubble.
When the Senate grudgingly reconfirmed Ben Bernanke as Fed chairman two days before his term expired, he was only a stand-in for the man 30 senators were really mad at. "I knew that he would continue the legacy of Alan Greenspan, and I was right," said an angry Jim Bunning, a conservative Republican from Kentucky who voted no. Fumed Bernie Sanders of Vermont, the Senate's only (admitted) socialist: "He said it publicly -- I want to follow in the footsteps of Alan Greenspan. Alan Greenspan's philosophy is a disaster." Jeff Merkley (D-Ore.) said Bernanke "helped set the fire that destroyed our economy." Only helped, that is -- and we all know whom he helped.
The U.S. economy will grow more than expected in the third quarter, but unemployment also will continue to increase and will pass 10 percent, former Federal Reserve Chairman Alan Greenspan said Sunday.
The U.S. economy will grow more than expected in the third quarter, but unemployment also will continue to increase and "penetrate" the 10% barrier, former Federal Reserve Chairman Alan Greenspan said Sunday.
Former Federal Reserve Chairman Alan Greenspan said the credit crunch should be over by now. But just ask anyone who has tried to get a loan recently, and they'll tell you a different story.
Positive thinking is a powerful force, even when it doesn't make much sense. That is one explanation for the mounting exuberance in financial markets.
updated: Fri Oct 24 2008 16:30:00
European and Asian leaders are meeting to focus on the global financial crisis. CNN's Emily Chang reports.
Former Federal Reserve Chairman Alan Greenspan told a House committee Thursday that the nation will emerge from the current credit crisis with a "far sounder financial system."
Former Federal Reserve Chairman Alan Greenspan says the current financial crisis is a "once-in-a-century credit tsunami" which will have a severe impact on the U.S. economy, driving unemployment higher
The U.S. credit squeeze has brought on a "once-in-a-century" financial crisis that is likely to claim more big firms before it eases, former Federal Reserve chief Alan Greenspan said Sunday.
Watching Alan Greenspan in his new incarnation is a strange experience. Greenspan 1.0 served as Federal Reserve Board chairman for an entire generation, being oracular, talking in what we (and now he) called Fedspeak, rarely saying anything on the record outside of carefully choreographed public appearances.
Alan Greenspan, former chairman of the Federal Reserve, projects that housing prices could bottom out in 2009 - or maybe later - according to a news report.
Alan Greenspan was once known for his inscrutable pronouncements, but his penchant for self-justification is now plain for all to see.
Today's economic condition could likely be seen as "the most wrenching since the end of the second world war," wrote former Federal Reserve chairman Alan Greenspan in the Financial Times on Monday.
The Fed has lowered short-term interest rates this year but longer-term bond yields have risen. Call it the new conundrum. And it's adding to the confusion on Wall Street about the economy.
Former Federal Reserve Chairman Alan Greenspan said Thursday there's at least a 50% chance the United States will slip into recession, and that the storm clouds over the economy won't clear until home prices bottom out.
Former Federal Reserve Chairman Alan Greenspan in a commentary published Wednesday argues that Fed policy under his leadership was not the cause of the housing bubble that precipitated the current crisis in financial credit markets, as some have charged.
Former Federal Reserve Chairman Alan Greenspan said in an interview that there was less than a 50-50 chance that the U.S. economy would slip into a recession.
The greatest event publicist on earth couldn't have timed Alan Greenspan's latest speaking engagement any better.
Alan Greenspan is 81 and out of work. But at his Wall Street book signing, he was bigger than Bono
updated: Mon Sep 17 2007 06:15:00
Former Federal Reserve Chairman Alan Greenspan slams the Bush administration and the GOP in his memoirs.
Alan Greenspan said the odds of a recession have grown since earlier this year, even though "the economy is not doing badly at this stage."
Stocks slipped Monday, one day ahead of a key Federal Reserve policy meeting, as investors worried that the central bank won't cut interest rates by as much as they had hoped.
Stocks slipped Monday afternoon, one day ahead of a key Federal Reserve policy meeting, as investors worried that the central bank won't cut interest rates by as much as has been hoped.
Alan Greenspan's new book "The Age of Turbulence" topped best-seller lists on both Amazon.com and Barnes & Noble's Web site after its official Monday morning release.
Stocks slipped Monday afternoon as investors worried that Federal Reserve policy makers won't cut a key short-term interest rate by as much as has been hoped when they meet to discuss policy on Tuesday.
Stocks slumped Monday morning as investors eyed a regulatory setback for Microsoft and worried that Federal Reserve policy makers may not cut interest rates Tuesday by as much as has been hoped.
Former Federal Reserve Chairman Alan Greenspan slams President Bush and today's Republicans, while calling Richard Nixon and Bill Clinton "the smartest presidents" he worked with, according to an advance copy of his upcoming book.
If you want to know the mind of Alan Greenspan, you might start with this: Before he entered public life in the 1970s, all his top deputies at his flourishing economic consulting firm were women.
Former Federal Reserve Chairman Alan Greenspan acknowledges he failed to see early on that an explosion of mortgages to people with questionable credit histories could pose a danger to the economy.
"The human race has never found a way to confront bubbles," Former Federal Reserve Chairman Alan Greenspan said Thursday in reference to the euphoria that can precede contractions, or reactions, like the current market turmoil, according to a published report.
Famously opaque when he was chairman of the Federal Reserve, Alan Greenspan - the author - says he relished the opportunity to break out of "Fedspeak" and share his own insights about the nation's economy.
Deutsche Bank is expected to announce Monday that it has hired former Federal Reserve chief Alan Greenspan as a senior adviser, according to a published report.
Take your tax breaks and mind-boggling incentives - give us a low rate.
Stocks tumbled Thursday, with investors retreating following the recent run, as a strong read on new home sales raised concerns that the Federal Reserve won't cut interest rates by the end of the year, as had been hoped.
The Nasdaq led a broader stock decline Thursday afternoon as investors bet that the strong morning economic news means the Federal Reserve is less likely to cut interest rates by the end of the year.
Fed chairman Alan Greenspan told his colleagues back in 2001 that he had " cringed" every time Treasury Secretary Robert Rubin repeated his " mantra" during the Clinton administration that the White House supported a strong dollar.
Corporate deals, a strong retail sales report and a more optimistic view on the U.S. economy by former Federal Reserve Chairman Alan Greenspan could help give U.S. stocks a positive start to the week.
Alan Greenspan is still commanding attention - and $100,000 per speech - a year after leaving his position as chairman of the Federal Reserve, according to a published report.
Stocks rose for a second straight day Thursday, finding momentum at the end of a volatile session, despite former Federal Reserve Chairman Alan Greenspan's concerns that the problems with subprime mortgages could spill over to other sectors.
Stocks gathered momentum Thursday afternoon despite former Federal Reserve Chairman Alan Greenspan's concerns that the problems with subprime mortgages could spill over to other sectors.
Stocks trimmed gains Thursday afternoon after former Federal Reserve Chairman Alan Greenspan said that the problems with subprime mortgages could spill over to other sectors, but added that a 10 percent rise in home prices could stop the problems.
Former Federal Reserve Chairman Alan Greenspan warned Monday that the economy may fall into recession by the end of 2007, according to a published report.
Bond prices headed higher Monday, bolstered by a warning on the economy from former Federal Reserve Chairman Alan Greenspan and continued worries over the subprime mortgage market.
CNNMoney.com) -- Former Federal Reserve Chairman Alan Greenspan told lawmakers Wednesday the U.S. and world economy has been able to withstand the high price of oil, but argued that crude is running out and a free-market-led switch is already under way.
Stocks investors were on hold early Wednesday ahead of the comments from former Federal Reserve Chairman Alan Greenspan and two current Fed policymakers that could determine if the Dow can stay above the 11,000 mark.
Former Federal Reserve maestro Alan Greenspan has chosen Peter Petre, a senior editor at large at Fortune Magazine, to help him write his memoir, the magazine said Tuesday.
Former Federal Reserve Chairman Alan Greenspan said Thursday that the "extraordinary" boom in the U.S. housing market in recent years is over.
Recently retired Federal Reserve Chairman Alan Greenspan believes that there will be a major independent candidate for president from the nation's political center, according to a published report.
For Erin Crowe, Alan Greenspan isn't just the outgoing Fed chairman. He's her muse. Once the 25-year-old started painting his nuanced expressions while on a fellowship, she was hooked. "People's re...
Alan who?
We're all doomed. One forecaster says the U.S. is on the edge of a recession that will crush the stock market. Another insists that inflation is about to flare up and destroy your purchasing power.
What do Alan Greenspan and Muhammad Ali have in common?
Alan Greenspan is expected to join an elite organization of six-figure lecture luminaries after he steps down as chairman of the Federal Reserve, according to a news report Monday.
Will the financial markets view Federal Reserve Chairman Alan Greenspan as Santa Claus or the Grinch after the Fed's next policy meeting Tuesday?
On Aug. 26, Alan Greenspan delivered a valedictory speech in balmy Jackson Hole, Wyo., that contained a wintry warning. Investors, the Fed chairman intoned, normally demand a substantial "risk premium"--a high return in exchange for taking a chance that they may lose money. Now, though, investors "accept increasingly low compensation for risk." They are acting, he said, as if owning stocks or houses has suddenly become much less uncertain than it has been over the past century. Under these conditions, he concluded, "any onset of investor caution elevates risk premiums and lowers asset values. History has not dealt kindly with the aftermath of low risk premiums." The chairman's chilling words attracted scant attention, but investors should treat them as holy writ. Greenspan spotlights a problem that everyone from Wall Street gurus spouting happy talk on CNBC to homebuilders touting the "new paradigm" in real estate choose to ignore. Let's translate his warning into plain language: Most investments are extr
Bonds rose and the dollar gained Friday as traders looked ahead to next week's jobs report and a speech by Alan Greenspan.
It's two days early but the Federal Reserve appears to have given investors something to be thankful for: a strong hint that its 16-month campaign of raising interest rates may finally be nearing an end.
The members of the Senate Banking Committee are throwing a lot of questions today at Ben Bernanke, President Bush's nominee to succeed Alan Greenspan as Fed chairman -- about inflation targeting, about transparency at the Fed, about taxes.
After 18 years at the helm, Alan Greenspan is stepping down as chairman of the Federal Reserve in January. On Oct. 24, President Bush nominated economic advisor and former Fed governor Ben S. Bernanke, 51, to replace him--a move that was widely praised. How does the new guy really stack up to his predecessor? Tale of the Tape
An unexpectedly strong productivity figure helped push U.S. stock futures higher Thursday, indicating a higher opening for stocks, ahead of outgoing Fed chairman Alan Greenspan's appearance before Congress.
We've grown accustomed to his furrowed face. Sworn in on Aug. 11, 1987, Alan Greenspan has been the Fed chairman through four Presidents, two wars, a pair of stock market crashes, and a steady stre...
WE WILL MISS HIM, THAT MUCH IS clear. We will miss his gnomic utterances, his unflappable calm, his shuffling gait, his occasional calls for fiscal responsibility. But will we really miss Alan Gree...
NEW YORK (CNN/Money) - Alan Greenspan's tenure as chairman of the Federal Reserve is drawing to a close...and with that, the Fed's current cycle of raising interest rates may be nearing an end as well.
Like many Americans, Ben Bernanke, the man nominated to be the next Federal Reserve Chairman, has a large majority of his financial holdings tied up in his retirement accounts, with relatively modest liquid assets.
Treasury prices fell for the third straight session Wednesday, lifting the yield on the benchmark 10-year note to a seven-month high, as bond investors bet the Fed would keep raising short-term interest rates into next year.
One of the harshest critics of Federal Reserve Chairman Alan Greenspan in the Senate isn't much happier with the man nominated to succeed him, Ben Bernanke.
President Bush on Monday nominated Ben Bernanke to succeed Federal Reserve Chairman Alan Greenspan, whose term is set to expire at the end of January.
Coming soon to Monster.com?
We will miss him, that much is clear.
The Bush administration will nominate Alan Greenspan's successor as head the Federal Reserve in early to mid-November, according to a report Wednesday.
The Haley's comet of government, the changing of the Fed chairman is an event both rare and monumental.
Stocks were mixed Tuesday as weakness in tech competed with the positive impact of falling oil prices and benign comments from Federal Reserve Chairman Alan Greenspan.
Falling oil prices put a floor under an otherwise jittery market Tuesday morning, with investors in waiting mode ahead of key reads on housing and consumer confidence, and an afternoon speech from Federal Reserve Chairman Alan Greenspan.
Treasury prices turned higher Tuesday after Federal Reserve Chairman Alan Greenspan said the U.S. had been able to withstand higher energy prices, but avoided addressing the possibility of more short-term interest rate hikes.
Greenspan's up to bat expecting a long, slow lob across the plate as he plays the final game of his career and dreams of coming retirement, when suddenly Hurricane Katrina throws him a curve ball: the Southeast is in shambles, the entire country at the mercy of punishing gas price spike.
Day One of the Jackson Hole Federal Reserve conference and so far we have heard from Alan Greenspan on the past and future of monetary policy.
Federal Reserve Chairman Alan Greenspan issued a veiled warning Friday on the risks to the economy from trade and budget deficits -- as well as the recent run-up in home prices.
Bonds rose Friday as a revised consumer confidence survey came in much lower than expected and Fed chief Alan Greenspan issued a veiled warning on the vulnerability of the housing market. Meanwhile, while the dollar fell.
In many respects, the 29th annual Jackson Hole symposium, put on as always by the Federal Reserve Bank of Kansas City, promises to be a two-and-a-half day love fest honoring Alan Greenspan.
Bonds drifted Thursday and the dollar edged lower against the euro and the yen after a government report showed that applications for jobless claims fell last week in line with forecasts.
Alan Greenspan has been called a real piece of work. Now, it might be true because one woman has turned the Fed chairman into a work of art.
Go easy on us maestro.
Being an oracle is a tough job, especially if you want to retain your credibility over an entire career. You have to be smart and provocative yet leave a little wiggle room. No one today understand...
In what could be one of his last appearances on Capitol Hill, Federal Reserve Chairman Alan Greenspan admitted even he doesn't know everything.
Alan Greenspan, chairman of the Federal Reserve, spoke favorably of the overall economy in Congressional testimony Wednesday, but warned investors about the risks of a housing bubble and fuel prices that are likely to keep rising for years.
Bonds inched lower but were relatively unchanged Wednesday as traders waited for Federal Reserve Chairman Alan Greenspan to give testimony on his view of the economy.
Alan Greenspan's words are known for rocking the markets but Fedwatchers say this week's testimony will be more like "don't rock the boat."
Being an oracle is a tough job, especially if you want to retain your credibility over an entire career. You have to be smart and provocative yet leave a little wiggle room.
The only thing more difficult to parse through than Alan Greenspan's testimony to Congress can be the questions he gets from senators and representatives.
Treasury prices climbed in the afternoon Tuesday as traders acknowledged that bond yields reflected Federal Reserve Chairman Alan Greenspan's optimism about the economy and that upcoming interest rate hikes were likely.
A three-week stock advance faces its biggest challenge yet in the week ahead, as 137 S&P 500 companies report earnings and one Fed chief heads to Capitol Hill.
Two senators agreed Thursday to delay a vote on legislation that would slap punitive tariffs on China, after Treasury Secretary John Snow and Federal Reserve Chairman Alan Greenspan convinced them that Beijing was likely to soon take steps toward revaluing its national currency.
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