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Monday, June 16, 2008

Greenspan Predicts Rise in Interest Rates

From Realtor Magazine Online, Daily Real Estate News June 16, 2008

The credit crisis is under control, but with inflation now the top concern, higher interest rates can be expected, said former Federal Reserve Chief Alan Greenspan said last week.

Greenspan said he thought the credit crisis had peaked in March. "I think the worst is over (for the U.S. economy) if the financial crisis is over," Greenspan said via video link to an event in Mexico.

But to keep inflation under control, Greenspan said the fed will have to tighten monetary policy and that will drive up interest rates.

Source: Reuters News (06/13/2008)
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