三级aa视频在线观看-三级国产-三级国产精品一区二区-三级国产三级在线-三级国产在线

  Home>News Center>World
         
 

Greenspan to quit as Fed Reserve chairman
(AP)
Updated: 2006-01-31 11:28

On Greenspan's watch, the economy _ from March 1991 to March 2001 _ posted its longest continuous expansion in history. The two recessions during his tenure were mild.

He confronted crises including a stock market crash in 1987 _ just two months into his job; financial upheavals in some parts of the world in the late 1990s; the bursting of the stock market bubble in 2000 that wiped out trillions of dollars in investor wealth; and the September 11, 2001, terror attacks.

In addition, Greenspan maintained the Fed's political independence in making interest-rate decisions and defended its regulatory turf, said Kevin Hassett, a former Fed economist who directs economic policy studies at the American Enterprise Institute.

Bernanke will want to show early on that he's the new alpha dog on the block, Hassett said. The message he needs to convey is akin to saying: "Here I am. I'm the new alpha. Don't-mess-with-me kind of speech," Hassett said.

One of Bernanke's first challenges as Fed chief will be deciding when to end the central bank's nearly 2-year-old rate-raising campaign, economists said.

The stakes are high. If he stops too early, inflation could become a problem, it he stops too late, the economy could be hurt. The first interest-rate meeting Bernanke will preside over will be on March 28.

Clues on Bernanke's thoughts about the future course of interest rates could come on February 15 when he delivers the Fed's twice-a-year report on the economy to Congress.

Bernanke takes over as the economy faces some potential challenges.

Questions persist whether the housing market will continue to gradually decline and avoid a crash; and whether foreigners will maintain a hardy appetite for investing in the United States and continue to finance ballooning budget and trade deficits.

Energy prices pose another wild card for the economy _ and for inflation.

Bernanke has the academic credentials for the Fed job, although he never worked on Wall Street and has limited political experience.

He will need to build support among his Fed colleagues _ not only on interest rate policies but on other matters that the bank may confront down the road.

Dissent on interest-rate votes was a rarity at the Fed under Greenspan. Former Fed governor Lawrence Lindsey said it would be "cataclysmic" to Wall Street investors if there were a flurry of dissenting votes under Bernanke. That would create confusion with investors and would probably roil the markets. But Lindsey doubts this would happen under Bernanke.

Earning credibility early on with Wall Street will be another test for Bernanke as well as crafting a uniform message about the Fed's outlook on interest rates and the economy to investors, the public and politicians, economists said.

The Fed chief oversees interest rate policy in the United States, which affects investors large and small. He also is responsible for regulating the nation's banking system to ensure its safety and soundness and is in charge of maintaining the stability of the country's financial markets.

As Bernanke takes center stage, Greenspan will move out of the main spotlight _ but he'll still be keeping tabs on economic conditions. He plans to open his own economic consulting business and also may appear on the speaking circuit and write a book.


Page: 12



Saddam stands for trial
US, Mexican police find largest ever border drug tunnel
Most Earth-like planet found
 
  Today's Top News     Top World News
 

Lunar New Year fireworks frenzy kills 36

 

   
 

Hu celebrates New Year with Yan'an people

 

   
 

Permanent five: IAEA must report Iran to UN

 

   
 

Domestic oil and gas supplies grow steadily

 

   
 

Greenspan to quit as Fed Reserve chairman

 

   
 

Al-Zawahri mocks Bush over terrorism war

 

   
  Permanent five: IAEA must report Iran to UN
   
  Chile's president-elect announces Cabinet with half women
   
  Al-Zawahri mocks Bush over terrorism war
   
  US gains support for aid cutoff to Hamas
   
  Greenspan to quit as Fed Reserve chairman
   
  Rice: 'Robust' talks needed with Iran
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  Are the Republicans exploiting the memory of 9/11?  
Manufacturers, Exporters, Wholesalers - Global trade starts here.
Advertisement
         
主站蜘蛛池模板: 国产乱理| 一级做α爱过程免费视频 | 女人精aaaa片一级毛片女女 | 国产精品天天影视久久综合网 | 久久欧美精品欧美久久欧美 | 99re久久资源最新地址 | 久久精品爱 | 国产一区 在线视频 | 亚洲一区二区三区高清 | 国产肥老妇视频∵ | 亚洲国产精品一区二区三区在线观看 | 日本不卡中文字幕一区二区 | 美国一级大黄一片免费zzz | 国产成人精品免费视频大全办公室 | 激情久久婷婷 | 国产片性视频免费播放 | 久久久久青草线蕉亚洲麻豆 | 欧美一区欧美二区 | 真实男女xx00动态视频免费 | 一级片黄色的 | 在线精品国精品国产不卡 | 91在线观| 免费人成激情视频在线看 | 黄色影 | 欧美色影院 | 欧美三级伦理片 | 亚洲日产综合欧美一区二区 | 日批网站在线观看 | 69成人做爰免费视频 | 国产精品成人不卡在线观看 | 一色综合 | 国产黄色一级片 | 日韩一级精品视频在线观看 | 曰本又色又爽又黄三级视频 | 成人在线视频网站 | 黄色福利视频 | 欧美日韩亚洲高清不卡一区二区三区 | 美国特级片 | 一级毛片真人免费观看 | 在线观看国产一区二区三区 | 1000部又爽又黄无遮挡的视频 |