Greenspan: no sign of prolonged euphoria

At the recent PEI CFO and COO Forum in New York, we asked the Fed’s former commander-in-chief about matters of importance to the alternative assets industry following his keynote speech.

In the second installment of PEI Media’s exclusive video interview, the economist shares his views on globalization, and the wider conditions that could have an impact on private fund managers.


With talk of an import tax being introduced in the US, and the UK facing tough trade negotiations with the EU, private fund managers with holdings in foreign portfolio companies are bracing themselves for higher costs of doing business.

Greenspan is opposed to a more insular attitude to trade, saying globalization is “good” because it can improve the standard of living for everyone. In this video he also discusses the implications of Brexit, and shares the advice he would give policymakers at the center of the negotiations.

The wider economy

Greenspan pours cold water on the theory the equity markets are in bubble territory, and adds it’s unlikely to happen soon because there is so much uncertainty about the US President’s economic policy plans. In this video, he discusses the distinct lack of euphoria in the market.

Did you miss part one? Catch up here.