Word: greenspans
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Dates: during 1990-1999
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Federal Reserve Chairman Alan Greenspan, speaking after the markets closed last Friday, revealed that Fed policymakers are worried that the threat to the U.S. economy from global financial turmoil rivals the danger of wage and price inflation. The Fed is now as likely to cut interest rates, he hinted, as to raise them. "It is just not credible that the U.S. can remain an oasis of prosperity unaffected by a world that is experiencing greatly increased stress," Greenspan said in a speech at the University of California, Berkeley. Then he headed off to join Treasury Secretary Robert Rubin...
Only 21 months ago, with the Dow at 6500, Greenspan was warning against "irrational exuberance" in the stock market. Several other wise elders expressed hope that last week's correction will have the cleansing effect of strengthening the historic relationship between stock valuations and the earnings of the underlying companies--a notion that had fallen out of favor after years of "momentum investing," in which all that mattered was that someone would buy the hot stock that some greater fool would soon bid up to an even higher price. The price-earnings ratio for the S&P 500 has approached...
Need some cheap advice from a market expert? Judging by the just disclosed portfolio of Federal Reserve Chairman Alan Greenspan, short-term T bills are the way to go. Though Greenspan's choices reflect his desire to "avoid any conflicts of interest" and "have nothing to do with the market," it's no surprise that the notorious skeptic would invest in bonds. Caution, though, doesn't come cheap; in 1997 one-year T bills had a 6.2% return, while the S&P 500 rose...
...last line of defense for the U.S. economy is the Federal Reserve, which has the power to cut interest rates if the expansion falters. But Fed Chairman Alan Greenspan, who warned of "irrational exuberance" in stock prices as far back as December 1996, remains more concerned about the threat of inflation than about the danger of a recession or a market collapse. Just last month Greenspan warned that plunging exports to Asia had done little to ease a growing U.S. labor shortage...
WASHINGTON: After a torrid 5.5 percent growth rate in the first three months of 1998, the economy has slammed on the brakes, growing only 1.4 percent in the April-June quarter. But if it doesn't worry Alan Greenspan, it shouldn't worry you. "This is exactly what economists were hoping for: The beginnings of a soft landing," says TIME business reporter Bernard Baumohl. "The Asian crisis is starting to hit us, and a slowdown was inevitable. This one, especially balanced with the abnormally high first quarter...