Thread: Greenspan: Dollar Slide No Worry

Greenspan: Dollar Slide No Worry

Thursday, October 15, 2009 9:47 AM

Former Federal Reserve Chairman Alan Greenspan said on Thursday he was not too worried about the latest bout of selling in the U.S. dollar, which recently hit a 14-month low.

"I am not overly concerned," Greenspan said at a Council on Foreign Relations meeting.

But he said that, longer term, government budget deficits would likely be even bigger than current record estimates. He added that the deficits would continue to put downward pressure on the currency and upward pressure on borrowing costs.

"It will begin to affect the yield on long-term interest rates," he said.

Asked about the problem of firms that are considered too large to fail, Greenspan: "If they are too big to fail, they're too big."

http://moneynews.newsmax.com/streettalk ... 72608.html

"I am not overly concerned," Greenspan said at a Council on Foreign Relations meeting.

Typical dribble from a bottom-feeding CFR member.