Alan Greenspan is not known for his pessimism about capitalism. But even the bullish former Fed chair recognises Brexit as a major threat
Alan Greenspan has seen more than a few dicey days on global markets in his time. So it was telling when the 90-year-old former chairman of the US Federal Reserve described the market chaos sparked by Britain’s leave vote as “the worst period I recall”.
“There’s nothing like it, including the crisis – remember 19 October 1987, when the Dow went down by a record amount of 23%? That I thought was the bottom of all potential problems. This has a corrosive effect that will not go away,” Greenspan told the broadcaster CNBC.