Alan Greenspan

Alan Greenspan
Federal Reserve Chairman Alan Greenspan, the former said it was "very difficult" to see a decline in unemployment in the United States soon and that economic recovery is "will be slow, walking thing."

While the recession is "basically over and said," Greenspan, "It is very difficult to make the unemployment situation, which is coming down any time soon." Speaking of former President of the Federal Reserve in the program "Meet the Press" program.

Unemployment rate in the United States unexpectedly fell to 9.7 percent in January from 10 percent in the previous month. The economy grew at an annual rate of 5.7 percent during the last three months of 2009, the fastest growth rate in six years.

Greenspan said he expected the unemployment rate between 9 and 10 percent for most of this year and so on. He said in the last quarter of the year and the rate of growth helped to rebuild the stock, and suggests that the U.S. economy, "We have rounds of ammunition" at the end of 2009. Means that economic growth is now "does not have a strong momentum I hoped to be."

More than half a million Americans found work in January and February 5: A report by the Ministry of Labor, the unemployment rate fell to its lowest level since August. Manufacturers hired more workers for the first time in three years, and expanded hours and enhanced pay, which may increase consumer spending and maintain growth. About 8.4 million jobs in the United States have been lost in a recession.

Greenspan, who appeared on television with former Treasury Secretary Henry Paulson, and that house prices are "low level" in a very helpful step Congress can take to help create jobs in this stage would be to enact tax cuts for small businesses.


- With the assistance of Timothy R. Homan in Washington. Editors: Bob Drummond, Mark Rohner


To contact the reporter on this story: Alan Bjerga in Washington at +1-202-624-1857 or abjerga@bloomberg.net

To contact the editor responsible for this story: Jim Kirk at +1-202-654-4315 or jkirk12@bloomberg.net