Former Fed Chair Greenspan: 'We Pretend A Great Deal'
- 4 years ago
In 1996, US Federal Reserve chairman Alan Greenspan famously warned of an 'irrational exuberance' in financial markets.
Now, Business Insider reports Greenspan has spoken about his sense of economic foreboding once more.
Greenspan told CNBC on Thursday that inflation, the coronavirus, and budget deficits are the critical issues the US is facing right now.
He said the clear increase in entitlements and growing budget deficits are getting 'out of hand,' and that he was deeply worried about inflation.
All in all my major concern is inflation. It obviously hasn't emerged in any significant way as yet, but I think that's the area where our problems lie. Alan Greenspan Former Chairman, US Federal Reserve
Husband of MSNBC's Andrea Mitchell, Thursday's CNBC appearance was Greenspan's first televised interview since the pandemic began.
He said the US knows very little about the coronavirus, 'so we pretend a great deal.'
Now, Business Insider reports Greenspan has spoken about his sense of economic foreboding once more.
Greenspan told CNBC on Thursday that inflation, the coronavirus, and budget deficits are the critical issues the US is facing right now.
He said the clear increase in entitlements and growing budget deficits are getting 'out of hand,' and that he was deeply worried about inflation.
All in all my major concern is inflation. It obviously hasn't emerged in any significant way as yet, but I think that's the area where our problems lie. Alan Greenspan Former Chairman, US Federal Reserve
Husband of MSNBC's Andrea Mitchell, Thursday's CNBC appearance was Greenspan's first televised interview since the pandemic began.
He said the US knows very little about the coronavirus, 'so we pretend a great deal.'