Greenspan Says Dollar's Decline Has No `Fundamental' Impact
By Anthony Massucci
Nov. 18 (Bloomberg) -- Former Federal Reserve Chairman Alan Greenspan said the dollar's decline hasn't affected the economy and is a ``market phenomenon.''
``So long as the dollar weakness does not create inflation, which is a major concern around the globe for everyone who watches the exchange rate, then I think it's a market phenomenon, which aside from those who travel the world, has no real fundamental economic consequences,'' he said.
The U.S. economy outside of the housing industry is ``doing reasonably well,'' Greenspan told an investor conference in New York today. ``If we can get beyond this housing problem I think we'll do pretty well.''
To contact the reporter on this story: Anthony Massucci in New York at amassucc@bloomberg.net .
Last Updated: November 18, 2007 09:44 EST
From: Bloomberg.com
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