Greenspan: “This is an awfully pale recession at the moment.”
May 5th, 2008 by Ben Parr | Leave a comment on this post below!
Former Fed Chair Alan Greenspan spoke in a television interview this morning, and he had some interesting comments. From Reuters and Bloomberg:
“We’re in a recession,” Bloomberg news agency reported Greenspan had said in a television interview. “But this is an awfully pale recession at the moment. The declines in employment have not been as big as you’d expect to see.”
The key words of the quote: at the moment. He’s stated before that he believed the U.S. is in a recession, but this quote makes me think he’s not convinced we’re anywhere near being out of the woods. Those three little words are important.
Do you think Greenspan’s a bull or a bear?
Spread the Word! Share This Post:
Filed under News and Analysis