Greenspan Slump will NOT worsen

The article, Greenspan: Slump will not worsen, from MSNBC.com, reports that former Federal Reserve Chairman Alan Greenspan said that "the economy is obviously going through a significant slowing period, which as best I can tell is more than likely temporary". Greenspan said that while the housing market is not out of the woods yet, the current slump may not worsen. "I think that while we are past most of it there are a lot of negatives... but it is no longer subtracting from the (gross domestic product) growth," the former Fed chairman said. Greenspan also touched on the potential adjustment in loan costs for home buyers with nontraditional mortgage products. While some individual buyers may feel the pinch as payments rise, Greenspan said those changes were "very unlikely to have a macroeconomic effect."


http://www.msnbc.msn.com/id/15591349/