After the encouraging news that 162,000 new jobs had been created in March, Alan Greenspan said today he is confident about the “momentum” of the economy. The former Federal Reserve chairman cited corporate investment in new equipment (which he claimed is “coming back in a substantial way”) and the recent bolstering of product inventories by purchasing managers.
“There is a momentum building up which is really just beginning, and it’s got a way to go,” he said on ABC’s This Week, “The momentum is very clearly there, and I doubt very much that we’re going to run out of that momentum until very late in the year.”
Despite it seeming like he was offered a bet to work in the word “momentum” as often as possible before going on air, we suppose we can take this as additional reason to be cautiously optimistic.
