Word: greenspans
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Dates: during 1990-1999
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...month, rank-and-file members of Congress were being asked to endorse the unpalatable idea that voters should pay more taxes while receiving less in the way of public services. Faced with that painful -- albeit necessary -- proposition, the lawmakers simply cut and ran, ignoring Federal Reserve Chairman Alan Greenspan's admonition that "failure to enact the agreement would produce an adverse reaction in financial markets that could undercut our economy...
...shock presents U.S. political and economic leaders with agonizing choices. To spur the slumping economy, the Federal Reserve Board would normally loosen credit and allow interest rates to fall. But Fed Chairman Alan Greenspan has been reluctant to do that because of the inflationary pressure of rising oil prices, which helped push the consumer price index to an annual rate of nearly 10% in August. Greenspan has suggested that interest rates would be allowed to fall if the Administration and Congress can reach a credible deficit-cutting agreement, which would reduce the pressure of government borrowing on the credit markets...
...problem started when Federal Reserve chair Alan Greenspan told a Congressional subcommittee that the Fed would not lower interest rates until inflation is stabilized. Right now, stabilizing inflation necessarily means getting the price of oil to fall...
...bailout faces the added specter of a slumping U.S. economy. A recession could raise the already astronomical price of the bailout by pushing more thrifts into bankruptcy and making it harder for the government to find buyers for seized S&Ls and their assets. Federal Reserve Chairman Alan Greenspan warned Congress last week that the Persian Gulf crisis has "introduced new and substantial risks" to the economy. Washington's latest measures of economic activity showed just how gloomy the outlook has become, as the Consumer Price Index rose 0.8% in August, equivalent to an annual rate...
...meantime, Greenspan also urged federal regulators to take a hint from the GAO report released last week and try to tighten their supervision of banking operations. The report noted that 22 of the 406 banks that failed in 1988 and 1989 never appeared on the FDIC's problem-bank list. "Banks have been able to hide their nonperforming loans," contends Robert Litan, a banking expert at the Brookings Institution. Such subterfuge would be more difficult if banks were to undergo annual on-site inspections. Until 1956 federal regulations required two such audits a year, but by the 1980s some banks...