The Great Maestro speaks again. He might have coined another new economic term, "quasi recession".
"The dollar traded near its weakest since November against the yen on signs the U.S. recovery is losing momentum and after Former Federal Reserve Chairman Alan Greenspan said the slowdown feels like a 'quasi recession.' The U.S. economy might contract again if home prices decline, Greenspan said in an interview on NBC’s 'Meet the Press' yesterday. 'We’re in a pause in a recovery, a modest recovery, but a pause in the modest recovery feels like a quasi- recession,' he said."