“I have never seen a special situation like this in my business experience,” CN94’s Julia Chatterley told CNN’s Julia Chatterley in her show First Move on Thursday.
Although he did not work in finance when he was younger, he went through great frustration.
Greenspan led the Fed From 1987 to 2006, the longest tenure in that role. (He stayed first in four months.)
At this stage the attempt to predict where the virus is going is a little higher than expected, Greenspan said. He added that it is possible to return to normal by next spring, but only if the spread of the virus is controlled and stays that way.
As long as there is a general agreement or something needs to be done, the new stimulus package should be easy to pass, Greenspan said. But in this vague situation, one should always ask what could go wrong.
“I’m not sure we have enough information to figure out how to deal with this kind of problem,” Greenspan said. He added that there could be unintended consequences for society.
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