Former Fed chair Alan Greenspan warned a US recession is on its way and slammed failed crypto exchange FTX in a recent Q&A. Here are the 10 best quotes.
Alan Greenspan said a US recession is coming, warned against a Federal Reserve pivot, and called a war between China and Taiwan a potentialThe five-term Fed president also slammed bankrupt crypto exchange FTX as"purely fraud" and said that digital assets demonstrate the
– when investors pile into overvalued assets because they know they can later sell them to a"greater fool" at a higher price. Since retiring as Fed chair in 2006, Greenspan has worked as a private advisor and financial consultant.published Tuesday on the firm's website. On the state of the US economy heading into 2023:inflation and the labor market"Wage increases, and by extension employment, still need to soften further for a pullback in inflation to be anything more than transitory. So, we may have a brief period of calm on the inflation front but I think it will be too little too late.
'... That risk has receded, but it demonstrates how even sound domestic monetary policy can lead to global financial stress.""Inflation could flare up again and we would be back at square one. Furthermore, this could potentially damage the Federal Reserve's credibility as a purveyor of stable prices, especially if the action were seen to be taken merely to protect the stock market rather than in response to truly unstable financial conditions.
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