Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
The yield on the benchmark 10-year Treasury note briefly fell below the 2-year rate on Wednesday, a phenomenon in the bond market known as yield curve inversion, which is...Marketsread more
The MacBook Pro recall and its subsequent ban from flights underscores the increasing brand risk from problems with lithium-ion batteries.Technologyread more
Experts say the timing of Amazon executives' contributions to Rep. David Cicilline likely reflect the company's heightened urgency over growing regulatory scrutiny.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Coinbase security chief Philip Martin explains, "Possession of a key is possession of your currency. What that means is that you can't revoke a cryptocurrency key, if that key...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
The Supreme Court could strike down the constitutionality of the Consumer Financial Protection Bureau, an agency Elizabeth Warren has likened to her child and which Justice...2020 Electionsread more
Bianco Research's James Bianco suggests Wall Street is desperately looking for a signal that a 50 basis point cut is coming next month.Trading Nationread more
The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
The reference to "irrational exuberance" — the two words Greenspan is most famous for — hearkens back to remarks he delivered at a 1996 American Enterprise Institute dinner.
"What I was trying to say in the AEI speech … is you never can be quite sure when 'irrational exuberance' arises. I was doing it as part of a much broader speech, and talking about the analysis of markets," Greenspan said on "Squawk Box," reflecting on the investment environment of more than two decades ago.
"I wasn't trying to focus short term. But the press loved that term," he added. "I am sort of now questioning whether it was wise to put it in the speech."
Greenspan said he's trying to ask similar questions in the current environment about when the three-decade bull market in bonds might end, considering "there's only one way" historically low interest rates can go and that's higher.
The Fed has signaled a willingness to increase rates further if the economy continues to cooperate. Central bankers have hiked the cost of borrowing money four times since December 2015, including twice this year alone.
In September 2007, as the financial crisis was heating up, the Fed began incrementally cutting rates and continued until December 2008, when the central bank's benchmark rate bottomed out at a range of zero to 0.25 percent where it stayed for seven years.
In December 2008, hoping to boost the economy, Fed officials also embarked on a series of bond-buying programs, which eventually swelled the central bank's balance sheet to the current $4.5 trillion. Only now is the Fed talking about how to wind down its portfolio of assets.
In making his forecast on bonds, Greenspan said Friday he's learned from the past. "It's a disturbing process because you have to be terribly careful with your words," he added, stressing he's not putting any time frame on it.
The 91-year-old Greenspan's tenure as Fed chairman spanned four presidents and nearly 19 years — starting with his appointment in 1987 by Ronald Reagan and ending with his retirement in early 2006, after President George W. Bush tapped Ben Bernanke to lead the central bank. Bernanke was succeeded by current Fed Chair Janet Yellen in 2014.