Word: greenspans
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Inflation has been dead so long that even a warning from Alan Greenspan inspires skepticism. "I don't think we're going to have an inflation problem," said economist Robert Brusca of FAO Economics following the Federal Reserve Chairman's words of concern accompanying a hike in short-term interest rates last week. "I think we have a Fed-credibility problem." Brusca is more worried about nascent signs of weakness, including eroding consumer confidence. A slowdown would quell inflationary pressures quickly, and one theory is that Greenspan's warning was part hype to justify jacking up rates so that...
...When Senate Democratic leader Harry Reid called Alan Greenspan a "political hack" last week, it was another illustration that the Fed Chairman?s near-oracle status has fallen victim to the rising partisanship in Washington. His support of Social Security private accounts was only the latest move to anger Democrats. Last month, Senate Democratic Whip Dick Durbin said, "Mr. Greenspan lost his credibility when he endorsed the President's tax cuts." Republicans, not surprisingly, don't agree, and have been almost gleeful at Greenspan's endorsement of their plan for Social Security. "Nobody in government has more credibility than Greenspan...
...current pattern runs counter to that. "It's surprising," says analyst Greg McBride of bankrate.com The average rate for a 30-year fixed-rate mortgage is now 5.81%, according to HSH Associates, while the average one-year ARM is 4.32%. And the gap is narrowing. Even Fed Chairman Alan Greenspan termed it a "conundrum" in a recent report...
Sachs and Tyson are Democrats (though Sachs insists that his work is nonpartisan); Republican officials argue that the U.S. economy will keep humming along despite red ink and higher rates. That view was seconded earlier this month by U.S. Federal Reserve Chairman Alan Greenspan, who suggested in London that a tighter fiscal policy could stabilize or even shrink the U.S. trade deficit. Still, mindful that alarmist predictions of two decades ago turned out to be wrong, Sachs and Tyson are not forecasting a calamity in the U.S. They also expect wider damage to be limited. "The U.S. deficit is really...
...maintain Social Security poses an immediate challenge for political activists. “There is enough money in the Social Security reserve, if the Republicans honor the reserve, until 2042. That’s just a fact,” she said. “How is it that Greenspan could still be terrifying people with the thought that it’s going to end earlier? That of course makes it likelier that the republicans will be able to diminish its effectiveness for greater numbers of people...