Former Federal Reserve Chairman Alan Greenspan gives the chance of recession less than 50/50—but does believe the probability of one occurring has increased, Reuters reports.

Greenspan said the slowdown in the housing market will “significantly” affect the “wealth effect” but won’t hit consumer spending as dramatically.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.