Ex-Fed Chief Greenspan Says US Recession Is Likely
Wednesday, January 4, 2023
© Reuters Ex-Fed Chief Greenspan Says US Recession Is Likely (Bloomberg) -- Former Federal Reserve Chair Alan Greenspan said a US recession is the “most likely outcome” as the central bank tightens monetary policy to curb inflation.
While the last two monthly reports showed a deceleration in consumer-price increases, “I don’t think it will warrant a Fed reversal that is substantial enough to avoid at least a mild recession,” Greenspan — now a senior economic adviser to Advisors Capital Management — said in a question-and-answer commentary on ACM’s website distributed Tuesday.
The Fed raised interest rates aggressively last year in a bid to pull inflation down from a 40-year high, and says it will keep tightening policy until the job is done.
Wage increases, and by extension employment, still need to soften further for the pullback in inflation to be anything more than transitory, Greenspan said.
“We may have a brief period of calm on the inflation front but I think it will be too little too late,” he said.
The risk of lowering rates too quickly is that inflation “could flare up again and we would be back at square one,” Greenspan said. That could damage the Fed’s credibility as the guarantor of stable prices, he said.
“For that reason alone, I do not expect the Federal Reserve to loosen prematurely unless they deem it absolutely necessary, for example, to prevent financial market malfunctioning,” he said.
©2023 Bloomberg L.P.
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01-05-2024 10:45:17 (UTC+7)
EUR/USD
1.0658
-0.0008 (-0.07%)
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EUR/USD
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-0.0008 (-0.07%)
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GBP/USD
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USD/JPY
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AUD/USD
0.6469
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USD/CAD
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EUR/JPY
168.32
+0.10 (+0.06%)
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EUR/CHF
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Crude Oil WTI Futures
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Brent Oil Futures
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Natural Gas Futures
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US Coffee C Futures
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Euro Stoxx 50
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S&P 500
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DAX
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FTSE 100
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Hang Seng
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+16.12 (+0.09%)
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US Small Cap 2000
1,973.05
-42.98 (-2.13%)
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IBEX 35
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BASF SE NA O.N.
49.155
+0.100 (+0.20%)
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Bayer AG NA
27.35
-0.24 (-0.87%)
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Allianz SE VNA O.N.
266.60
+0.30 (+0.11%)
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Adidas AG
226.40
-5.90 (-2.54%)
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Deutsche Lufthansa AG
6.714
-0.028 (-0.42%)
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Siemens AG Class N
175.90
-1.74 (-0.98%)
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Deutsche Bank AG
15.010
-0.094 (-0.62%)
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NeutralMoving Avg:
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Buy (6)
Sell (2)
| EUR/USD | 1.0658 | ↑ Sell | |||
| GBP/USD | 1.2475 | ↑ Sell | |||
| USD/JPY | 157.91 | ↑ Buy | |||
| AUD/USD | 0.6469 | Neutral | |||
| USD/CAD | 1.3780 | ↑ Buy | |||
| EUR/JPY | 168.32 | ↑ Buy | |||
| EUR/CHF | 0.9808 | Neutral |
| Gold | 2,295.80 | ↑ Sell | |||
| Silver | 26.677 | ↑ Sell | |||
| Copper | 4.5305 | ↑ Buy | |||
| Crude Oil WTI | 81.14 | ↑ Sell | |||
| Brent Oil | 85.62 | ↑ Sell | |||
| Natural Gas | 1.946 | ↑ Sell | |||
| US Coffee C | 213.73 | ↑ Sell |
| Euro Stoxx 50 | 4,920.55 | ↑ Sell | |||
| S&P 500 | 5,035.69 | ↑ Sell | |||
| DAX | 17,921.95 | ↑ Sell | |||
| FTSE 100 | 8,144.13 | Sell | |||
| Hang Seng | 17,763.03 | ↑ Sell | |||
| Small Cap 2000 | 1,973.05 | ↑ Sell | |||
| IBEX 35 | 10,854.40 | Neutral |
| BASF | 49.155 | ↑ Sell | |||
| Bayer | 27.35 | ↑ Sell | |||
| Allianz | 266.60 | ↑ Sell | |||
| Adidas | 226.40 | ↑ Sell | |||
| Lufthansa | 6.714 | Neutral | |||
| Siemens AG | 175.90 | ↑ Sell | |||
| Deutsche Bank AG | 15.010 | Neutral |
| Mua/Bán 1 chỉ SJC # So hôm qua # Chênh TG | |
|---|---|
| SJC Eximbank | 8,300/ 8,500 (8,300/ 8,500) # 1,298 |
| SJC 1L, 10L, 1KG | 8,300/ 8,520 (0/ 0) # 1,510 |
| SJC 1c, 2c, 5c | 7,380/ 7,550 (0/ 0) # 540 |
| SJC 0,5c | 7,380/ 7,560 (0/ 0) # 550 |
| SJC 99,99% | 7,370/ 7,470 (0/ 0) # 460 |
| SJC 99% | 7,196/ 7,396 (0/ 0) # 386 |
| Cập nhật 01-05-2024 10:45:19 | |
| Xem lịch sử giá vàng SJC: nhấn đây! | |
| ↀ Giá vàng thế giới | ||
|---|---|---|
| $2,285.72 | -47.5 | -2.04% |
| ʘ Giá bán lẻ xăng dầu | ||
|---|---|---|
| Sản phẩm | Vùng 1 | Vùng 2 |
| RON 95-V | 25.440 | 25.940 |
| RON 95-III | 24.910 | 25.400 |
| E5 RON 92-II | 23.910 | 24.380 |
| DO 0.05S | 20.710 | 21.120 |
| DO 0,001S-V | 21.320 | 21.740 |
| Dầu hỏa 2-K | 20.680 | 21.090 |
| ↂ Giá dầu thô thế giới | |||
|---|---|---|---|
| WTI | $80.83 | +3.39 | 0.04% |
| Brent | $85.50 | +3.86 | 0.05% |
| $ Tỷ giá Vietcombank | ||
|---|---|---|
| Ngoại tệ | Mua vào | Bán ra |
| USD | 25.088,00 | 25.458,00 |
| EUR | 26.475,36 | 27.949,19 |
| GBP | 30.873,52 | 32.211,36 |
| JPY | 156,74 | 166,02 |
| KRW | 15,92 | 19,31 |
| Cập nhật lúc 10:45:15 01/05/2024 Xem bảng tỷ giá hối đoái | ||
