Greenspan Sees a Jobs Rebound but also Lingering Tough Problems


Alan Greenspan was famously tightlipped and difficult to decipher during his long tenure as chairman of the Federal Reserve Bank. But he held forth on topics ranging from the employment picture to the future independence of the Fed in an appearance Sunday on NBC's Meet the Press.

Greenspan said he expects jobs "to come back fairly quickly" since frightened businesses cut costs to the bone at the depths of the recession and can now barely keep up with demand. Despite a pickup in job creation, he warned that unemployment rates could stay high as discouraged workers reenter the workforce. He added that 100,000 jobs were needed each month simply to keep up with U.S. population growth.