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Greenspan: Housing impact is "critical question"

NEW YORK
Mon Sep 17, 2007 9:31am EDT

NEW YORK (Reuters) - Former Federal Reserve Chairman Alan Greenspan said on Monday he is concerned about the fallout from a U.S. housing bubble but added it's unclear whether that might cause a broader upheaval in the global economy.

U.S.  |  Housing Market

"We, unlike the rest of the world, are showing some modest price declines," Greenspan said in an interview with CNBC Television.

But when asked whether that will spark a broader economic turndown, he said "the problem is that we haven't seen one yet, and I don't know, but I will say that is a critical question."

Greenspan said the Fed tried to raise mortgage rates in 2004 to weigh against an emerging bubble but was unsuccessful.
U.S.
Housing Market


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