Former Federal Reserve chairman Alan Greenspan said Sunday the US economy has a better than evens chance of beating a recession but warned that a housing slowdown could hit spending hard.
"We're heading for a slowdown," he said on NBC in the latest television appearance to publicize his new memoirs, "The Age of Turbulence: Adventures in a New World."
"My own guess is the odds are less than 50-50 that we're heading to a recession, but there is no question we've got significant pressure on home prices, which I expect to move down quite considerably lower," he said.
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