Published On: Wed, Dec 31st, 2014

Alan Greenspan Not Confident About US Economy

Alan Greenspan 640x360

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.

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