Wednesday, January 30, 2008

Greenspan Puts the Chances of a Recession at 50%+ and It Is Basically Unstoppable

Recently, Greenspan has become every one's favorite economist to dislike, but the man still has a lot of experience on these issues. From Yahoo:

The likelihood of the United States slipping into recession is at least 50 percent, former Federal Reserve Chairman Alan Greenspan was quoted as saying on Wednesday, in an interview with a German newspaper.

"I believe the probability of a recession is at least 50 percent, but up to now there are few signs that we are already in one," Greenspan said in an interview with weekly Die Zeit.

Asked whether central bankers and finance policymakers could head off a recession in the world's biggest economy, Greenspan told the paper: "Probably not. Global economic influences are stronger than almost anything that monetary or fiscal policy can counter them with."

No comments:

Post a Comment