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Former Fed Chair Alan Greenspan Predicts Economic Rebound After “Pretty Awful” Q2 - Bloomburg via The Bongino Report

(Bloomberg) -- The coronavirus is having a profound effect on the U.S. economy, but it should be able to stage a strong comeback, said former Federal Reserve Chairman Alan Greenspan.

“The second quarter is pretty awful,” he told David Westin in a telephone interview with Bloomberg Television on Tuesday. “But if the issue of the virus works its way as we expect, we probably have a very strong third quarter. But my concern is the fourth quarter and beyond.”

Greenspan, who led the U.S. central bank from 1987 to 2006, cautioned that the mounting burden of an aging population on the cost of U.S. retirement benefits would crowd out investment, lower productivity and hobble the economy in the years ahead.

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