By RAW STORY | Uncategorized | Tuesday, 24 June 2008
JOHANNESBURG (Reuters) - Former U.S. Federal Reserve Chairman Alan Greenspan warned on Tuesday the U.S. economy was “on the brink” of a recession.
He said via video link to an investment conference in Johannesburg the chances of that economy falling into recession were more than 50 percent and a rebound was unlikely.
Asked if the U.S. economy was in recession, Greenspan said: “We are on the brink”. “A rebound at this stage is not something I think is in the immediate outlook,” he added.