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Former Federal Reserve Chairman Alan Greenspan predicts that the unemployment rate will push past 10 percent and stay at that level for a while.
The U.S. service sector grew in September for the first time in 13 months, an encouraging sign for the fledgling economic recovery, although jobs remain scarce.
Former Federal Reserve Chairman Alan Greenspan says he doesn't think the Fed should be considering raising interest rates to ward off inflation — at least not yet.
Former Federal Reserve Chairman Alan Greenspan said Friday there is no doubt the world economy is in a very severe recession and that U.S. gross domestic product will decline significantly in the last three months of the year.
Former Federal Reserve Chairman Alan Greenspan, describing the current financial crisis as a "once-in-a-century credit tsunami" acknowledged Thursday that the crisis has exposed flaws in his thinking and in the workings of the free-market system.
An impatient White House prodded banks and other financial companies Tuesday to quit hoarding billions of dollars flowing into their vaults from Washington and start making more loans. Wall Street soared nearly 900 points on bargain-hunting and hopes of a hefty interest rate cut by the Federal Reserve.
Without offering a recommendation, former Federal Reserve Chairman Alan Greenspan said Sunday the government faces tough choices as it tries to help arrange a rescue of Lehman Brothers without using public money.
Former Federal Reserve Chairman Alan Greenspan said Thursday night the American economy is "clearly on the edge" of a recession, and he pointed to the depressed housing market as a primary culprit.
Former Federal Reserve Chairman Alan Greenspan says the odds the U.S. will fall into a recession are "clearly rising" and he believes economic growth is "getting close to stall speed."
Former Federal Reserve Chairman Alan Greenspan said Thursday that Americans' consumption could taper off somewhat now that the U.S. housing market's "extraordinary boom" has ended.
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