Greenspan Says Politics Today Are Unlike Any He’s Seen
(Bloomberg) -- Former Federal Reserve Chairman Alan Greenspan said the current state of U.S. politics is unlike anything he’s seen.
“I was in the U.S. government for almost 20 years and I’ve never seen anything remotely close to what we’re observing today,” Greenspan said on Bloomberg TV on Wednesday. “I think the economic outlook is being significantly affected by the poor politics," he said, adding that he’s “very much concerned.”
The former Fed chief’s comments come amid pressure on the central bank from President Donald Trump, who wanted policy makers to hold off on raising interest rates on Wednesday. Trump said in tweets that higher rates were hurting the economy. The Fed decided to lift borrowing costs for the fourth time this year, defying the president’s criticism and ignoring a stock-market selloff.
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