Greenspan: ‘Double dip’ recession odds have ‘fallen very significantly’ recently
Former Federal Reserve Chairman Alan Greenspan said Sunday the economy is unlikely to fall into another recession.
“I think the odds of that have fallen very significantly in the last
two months,” Greenspan told ABC News’ “This Week” when asked about the
chances of a “double dip” recession.
Greenspan saw hopeful signs in the stock market, the amount of
capital investment from businesses, and rebounding inventory levels.
Greenspan also said the worse of the subprime mortgage crisis was
over, and that its threat to the overall economy has decreased.
The good news extends to the employment picture, Greenspan
indicated. He said it was possible that the job growth could reach
300,000 or more a month. Last week, the Labor Department reported that
the economy had added 162,000 jobs in March, although unemployment
levels remained at 9.7 percent.
“There is a momentum building up which is really just beginning, and it’s got a way to go,” Greenspan said.
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