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Greenspan Says Economy May Be Undergoing a `Pause’

Posted By admin On July 9, 2010 @ 4:17 am In Money Watch | Comments Disabled

Vivien Lou Chen
Bloomberg [1]
July 9, 2010

Former Federal Reserve Chairman Alan Greenspan said the U.S. economy may be undergoing what he called a “pause,” and that he can’t rule out the possibility of a so- called double-dip recession.

“Of course, there’s a possibility,” Greenspan said in an interview on CNBC today. “The trouble is there’s always a possibility in both directions.”

Greenspan, who ran the central bank from 1987 to 2006, said “it’s more than likely” that a “pause” is occurring in the world’s largest economy. Inventory accumulation “has stopped” and production “has flattened out,” the 84-year-old former central banker said.

Companies added 83,000 workers to their payrolls in June, less than forecast by economists, the Labor Department report said last week. The report capped a month of data on housing and manufacturing that point to a slowdown in the economy.

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[1] Bloomberg: http://www.bloomberg.com/news/2010-07-08/greenspan-says-economy-may-be-having-a-pause-can-t-rule-out-double-dip.html

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