by Eric Dubin, The News Doctors:
Another Greenspan interview? Operation ‘restore reputation’ continues. His observations must concern Janet Yellen.
TND Editor’s Note: Former Federal Reserve Chairman Alan Greenspan played a leading role in creating the problems he now criticizes. Thankfully, history will remember Greenspan for all of his sins. But his warning is right on target. Bloomberg reports:
“I cannot perceive that we can maintain these levels of interest rates for very much longer,” he told former Securities and Exchange Commission Chairman Arthur Levitt in a Bloomberg Radio interview to be aired this weekend and next.
“They have to start to move up and when they do they could move up and surprise us with the degree of rapidity which may occur,” Greenspan added.
You’ll have to wait until the weekend to listen to the full interview, but Bloomberg has released choice quotes and you can read them by accessing the article below.
Greenspan Sees U.S. Interest Rates Rising Soon, Perhaps Rapidly – US economy headed into stagflation. https://t.co/C96cjr0B60
— Model Capital Mgmt (@ModelCap) 18 August 2016
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