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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.

Full article here [1]

Greenspan Says Economy May Be Undergoing a `Pause 150410banner7 [2]

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URLs in this post:

[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

[2] Image: http://www.homegain.com/housead/homes_for_sale/index?entryid=11502

[3] Greenspan: Ignore The Economy, “Only The Stock Market Matters”: http://www.prisonplanet.com/greenspan-ignore-the-economy-only-the-stock-market-matters.html

[4] Greenspan: Break Up the Big Banks, It Will Be Good for the Economy, Minor Regulation Won’t Work: http://www.prisonplanet.com/greenspan-break-up-the-big-banks-it-will-be-good-for-the-economy-minor-regulation-wont-work.html

[5] Greenspan: Don’t use Fed as a ‘magical piggy bank’: http://www.prisonplanet.com/greenspan-dont-use-fed-as-a-magical-piggy-bank.html

[6] Greenspan Sees ‘Fairly Pronounced Recovery’ in U.S.: http://www.prisonplanet.com/greenspan-sees-%e2%80%98fairly-pronounced-recovery%e2%80%99-in-u-s.html

[7] Greenspan: I’m ‘Shocked’ At Breakdown in Credit: http://www.prisonplanet.com/greenspan-im-shocked-at-breakdown-in-credit.html

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