Alan Greenspan Maintained Quotations

Over the past decade, the U.S. economy has benefited from a remarkable acceleration of productivity. But experience suggests that such rapid advances are unlikely to be maintained in an economy that has reached the cutting edge of technology.

Over most of the past several years, the behavior of unit labor costs has been quite subdued, ... But those costs have turned up of late, and whether the favorable trends of the past few years will be maintained is unclear.

Demand has been growing quite strongly in recent months, and the (Fed monetary-policy committee)? will have to judge whether that pace of expansion will be maintained (and), if so, whether it will continue to be met by solid productivity growth, as it apparently has been.