Alan Greenspan Policy Quotations

We need ... to be aware that our front-loaded policy actions this year, coupled with the tax cuts under way, should be increasingly affecting economic activity as the year progresses,

no doubt that the current stance of policy ? will need to be changed at some point.

history cautions that investors' anticipations of the cumulative magnitude of policy actions and their timing under such circumstances are far from perfect.

Roger was the major policy maker during 9/11.

The present policy path makes current promises, at least in real terms, highly conjectural,

We think that coming up on a regular scheduled basis ... has been very productive, ... It requires us ... to have a structure of policy that is coherent to the Congress.

We cannot rule out a situation in which a pre-emptive policy tightening may become appropriate before any sign of actual higher inflation becomes evident.

Any notable shortfall in economic performance from the exemplary standard of recent years runs the risk of reviving mistrust of market-oriented systems, even among conventional policy makers,

This period of sub-par economic growth is not yet over, and we are not free of the risk that economic weakness will be greater than currently anticipated, requiring further policy response,

That greater tendency toward self-correction has made the cyclical stability of the economy less dependent on the actions of macroeconomic policy makers, whose responses often have come too late or have been misguided.

In these circumstances, monetary policy is able to be more patient,

Hopefully his successor, whoever it is, will demonstrate that the good policy we've had over the past 18 years is as much due to the evolution of the institution as it is to Greenspan per se.

The complexity of our economy is such, and the way liquidity flows through the system is such, that you essentially get very complex differences in the way monetary policy plays out, ... But, at the end of the day, it does seem to be effective.

The determination of global economic activity in recent years has been influenced importantly by capital gains on various types of assets, and the liabilities that finance them. Our forecasts and hence policy are becoming increasingly driven by asset price changes.