Greenspan: Recession Odds ‘Clearly Rising’
Global forces beyond the Federal Reserve’s control helped fuel the bubble that led to the current housing meltdown, former Fed Chairman Alan Greenspan said Thursday. In an NPR interview, Greenspan also said that the odds of a recession are “clearly rising.”
This week, Greenspan wrote a commentary in The Wall Street Journal looking at the roots of the current mortgage crisis. In the article, he defended the Fed’s decision to keep rates low - a move that some people say fueled the housing bubble.
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