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Any further rate increases he said, would drive out busi ness.
The manufacturers have been arguing against any further rate increases by the Fed, insisting that more will slow the economy too much.
Similar(58)
Like a number of other Fed officials, Mr. Greenspan is likely to resist any calls for further rate increases on the basis of a theoretical relationship between growth, unemployment and inflation.
The Fed itself has decided to suspend further rate increases.
Willis Towers Watson indicates that underlying trends continue to point to further rate increases in 2016.
But analysts and economists worry that further rate increases may only dampen growth.
After that initial activity, growth slows and further rate increases can choke off a recovery.
In March, the majority's support for a gradual series of rate increases prevailed again, though central bankers said further rate increases were likely.
The higher rates, he reckons, will set off financial turmoil -- perhaps a high-profile failure -- forcing the Fed to back off from further rate increases.
That, and the prospect of further rate increases to come, have spooked the entire stockmarket.
Further rate increases are expected, but there is wide disagreement over how many there will be and how quickly they will come.
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