** FILE ** Federal Reserve Board Chairman Alan Greenspan testifies before Congress' Joint Economic Committee in this Nov. 3, 2005 file photo. The Federal Reserve is expected to keep boosting interest rates until Greenspan leaves at the end of January 2006. But it's anybody's guess whether the credit-tightening campaign will continue under his designated successor, Ben Bernanke. (AP Photo/Lauren Victoria Burke, File)
Greenspan: Stimulus contributing to lagging recovery
WASHINGTON (CNNMoney.com) — Massive government intervention to save the economy is to blame for the lagging recovery, Former Federal Reserve Chairman Alan Greenspan said Tuesday.
Greenspan argued for less government intervention to get the recovery rolling and businesses investing in equipment and plants.
“What we need to do now is to calm down; let things move by themselves,” he said at a forum at the Council of Foreign Relations. “And indeed the rate of activism has decreased significantly and the ratio of capital flow has inched back up.”