Loading…
Wednesday, April 16, 2014
Current Weather
Loading Current Weather....
Published: 5/31/2008

Greenspan says inflation is an immediate threat

Former Federal Reserve Chairman Alan Greenspan said the U.S. economy, which has been buffeted by speculation in the housing and stock markets, faces a more immediate threat from inflation than from additional speculative bubbles.

In Montreal yesterday, he said containing inflation may require very tight monetary policies in future years. Mr. Greenspan, 82, who served as Fed chairman from August, 1987, to January, 2006, said oil prices are in a long-term trend higher, though part of the current increase may be driven by speculation.

He added that the U.S. credit crunch since last August continues to be very serious.



Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.