US consumers in good shape, says Greenspan

Fed Chairman Alan Greenspan said on Monday 23 February that the US household sector seemed to be in good shape. Homeowners have done well, with their total debt burden kept under control.

"Overall, the household sector seems to be in good shape," Greenspan told the Credit Union National Association. "Much of the apparent increase in the household sector's debt ratios over the past decade reflects factors that do not suggest increasing household financial stress."

"So long as financial intermedi