![]()
- Greek Cabinet Approves EU, IMF Bailout Bill
- We're Not Greece: Italian Prime Minister Monti
- Private Homebuilders in the US: Dead Men Walking
- Dividend Payout Could Hit Record Amount This Year
- With Investors So Bullish, Stock Pullback Must Be Ahead
- Obama Likely to Call for Cutting Top Corporate Tax Rate
- New York Fashion Week Fall 2012
- NetNet: Why Saving Greece Could Destroy the World
- My Funny Valentine: When Love and the Fed Collide
MOST SHARED
- Greek Debt Saga Back on Center Stage for Markets
- Obama Likely to Call for Cutting Top Corporate Tax Rate
- Special Feature: Wall Street History - How Wall Street Got Its Name
- Obama to Project $901 Billion Budget Deficit in 2013
- Private Homebuilders: Dead Men Walking
- When Love and the Fed Collide
- How to Trade the Turmoil in Greece
- Steelers' Antonio Brown Spends Super Bowl Week with Twitter Fan Turned BFF
- We're Not Greece: Italian Prime Minister Monti
- LinkedIn CEO Calms Post-Lockup Concerns
MOST POPULAR
HOT ON FACEBOOK
Greenspan Says US Growth is at Zero
U.S. economic growth has stalled and recovery may take longer than usual, former U.S. Federal Reserve chairman Alan Greenspan said on Monday.
"
![]() |
J. Scott Applewhite / AP |
"Recovery might take longer to emerge than it usually does," he added.
The longer growth stays at zero, the more likely the world's largest economy would start to contract, he said, adding that globalization of trade could ease some shocks.
"Growing globalization of trade and the economy would facilitate the absorption of shocks in the U.S.," he said.
In updated economic forecasts released last week, the U.S. central bank lowered its outlook for 2008 growth by a half percentage point to between 1.3 percent and 2 percent, citing the prolonged housing slump and bottlenecks in credit markets.
The Federal Reserve said at the time it was worried the economy could face further setbacks, even after a series of interest rate cuts.
Greenspan also said a boom in oil prices, which hit a record of $101.32 on Wednesday, will "go on forever".
Soaring crude prices have kept U.S. inflation high, even as growth slows.









