While former Fed Chairman Alan Greenspan said the U.S. economy is healthier than many other economies around the world, “we’re still not doing all that well, ” he told Bloomberg. Greenspan, who is 88, retired from the Fed in 2006. He said that while there are bright spots in the economic picture, there won’t be a full recovery until housing snaps back and companies invest in productive assets. Until then, “we have a very sluggish economy, ” Greenspan said. Although the Gross Domestic Product rose 5% in the third quarter, the fastest rate since 2003 and the Dow Jones hit an historical high of 18, 000, Greenspan sees growth falling below 3%.
Despite the bleak predictions, consumer confidence rose in December because of robust employment and low gas prices.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at email@example.com.