Greenspan sceptical about central bank intervention, warns on US ...
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FRANKFURT, Nov 19  - US Federal Reserve Chairman Alan Greenspan deflated European hopes Friday for coordinated central bank intervention to check the record-setting pace of the euro.
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FRANKFURT Alan Greenspan came to the home of the euro on Friday and warned anxious Europeans to expect little relief from the dollar&#39;s relentless decline against their currency.
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The Chairman of the US Federal Reserve, Alan Greenspan, says he believes the current surge in global oil prices will not have the same impact on economic growth and inflation as the energy crisis of the 1970s.
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Federal Reserve officials on Wednesday expressed concern about a possible U.S. recession but warned that the central bank cannot let down its guard when it comes to fighting inflation.
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Former Federal Reserve Chairman Alan Greenspan said his successors at the U.S. central bank should act cautiously in lowering interest rates because of inflation risks, according to an interview published on Sunday.
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WASHINGTON - Stock markets in the United States dropped sharply Friday after Federal Reserve Board Chairman Alan Greenspan warned about the risks to the economy posed by continued high US trade deficits.
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The persistently high current-account deficit of the U.S. in world trade threatens to further devalue the dollar, Federal Reserve Chairman Alan Greenspan said today.
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The chairman of the Federal Reserve, Alan Greenspan, warned today that the Federal government might have to scale back promises to the elderly in programs like Social Security and Medicare.
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(InfoWorld) - Former Federal Reserve chairman Alan Greenspan is hitting the airwaves promoting his new book, but his comments in recent interviews about the possibility of a recession might be scarier to IT folks than anything in the new tome. Greenspan, who has become a Federal Reserve chairman emeritus of sorts, might be more objective now that he is out of his federal role. He told the Wall Street Journal yesterday that he thought the probability of a recession is "slightly more than a third," up from merely a third, as he put it earlier this year. For IT professionals and CEOs of major software and hardware vendors, the prospect of a recession any time soon is downright daunting, given that memories of the 2001-2002 dot-com bust are still fresh. If housing price declines and the troubles with home mortgage lenders precipitate a longer economic downturn in the next year, the effect could roughly halve the 12-year cycle many economists track for upturns and downturns, some observers noted yesterday. "I'm certainly concerned with the housing downturn," said IT market analyst Jason Sajko, who studies government spending on IT for consulting firm Input. "But I don't see that creating something like what we felt in 2001 and 2002 so soon after then. I don't think we'll see an impact of that magnitude." Sajko and Input do frequent analysis of federal, state, and local spending on IT products and services. A month ago, Input said it was still projecting strong growth in state and local government spending in the United States on IT products and services into 2012, increasing from $43.9 billion in 2007 to $67.2 billion in 2012. That analysis was able to track the impact of the general economy, including the news in the last six months over housing market problems. In a small update to that analysis yesterday, Sajko said that state and local governments are also beginning to use a new catalog of IT vendors and prices called Schedule 70 provided by the U.S. General Services Administration. The GSA provides the catalog as a resource to thousands of state and local IT purchasing managers, Sajko explained. For Schedule 70, growth in IT spending among local and state governments will increase nearly 25 percent a year to 2012, exceeding $1 billion. While $1 billion is a small portion of the total spending in that category, it shows primarily a shift in the way spending will be done, not so much the overall level of spending related to the larger IT economy, Sajko said. Still, state and local spending on IT can be seen as a "more stable" area for IT spending in coming years than others, Sajko said. Several CEOs in recent days have said in interviews with Computerworld that they are carefully watching the direction of the general economy. They said they learned from the dot-com bust to adapt their products to the most successful market segments in order to weather downturns. For example, Maria Ligeti, CEO of startup React Systems in Roseville, Calif., said yesterday she has profited from observing the IT industry's upturns and downturns in Silicon Valley for more than 20 years while working in various roles. A new product and service her company is launching soon in emergency communications will be marketed to several vertical industry segments. She said the offerings have been fostered over several months by early adopters, she said. "We think we'll be somewhat immune" if there's a downturn, she said with confidence.
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Former Federal Reserve Chairman Alan  Greenspan said his successors at the U.S. central bank should  act cautiously in lowering interest rates because of inflation  risks, according to an interview published on Sunday.
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Risks of a recession have increased, but the Federal Reserve must be cautious in supporting the economy because global forces that have kept inflation in check are receding, former Fed Chairman Alan Greenspan said on Monday.
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Former Federal Reserve Chairman Alan Greenspan on Wednesday said a rise in import prices of Chinese goods to the U.S. may be a signal the disinflationary process may be reversing.
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Former Federal Reserve Chairman Alan Greenspan said his successors at the U.S. central bank should be cautious about cutting interest rates because of inflation risks, and he forecast home prices will drop further, according to interviews published on Sunday.
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Former U.S. Federal Reserve Chairman Alan Greenspan said on Wednesday he feared a "dramatic contraction" in Chinese stocks but said the global economy may be able to shrug off a drop in asset prices.
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Former U.S. Federal Reserve Chairman Alan Greenspan told a Tokyo seminar on Thursday that he does not think economic slowdown in his country is "probable," toning down his earlier warning over a recession later this year.
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Former Federal Reserve chairman Alan Greenspan is hitting the airwaves promoting his new book, but his comments in recent interviews about the possibility of a recession might be scarier to IT folks than anything in the new tome.
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The threat of a U.S. recession has central bankers around the world nervous  -  except for Japan's. Perhaps they should be