View Full Version : Greenspan Says Economy currently on`Pause'... could play forward or reverse

9th July 2010, 12:41 PM
Using a tape player as an example, Greenspan said the U.S. economy is on pause and may move forward, fast forward, or reverse depending on who pushes the buttons...
He did not mention the tape quality...

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.