Federal Reserve Board Chairman Alan Greenspan said Wednesday that the recent drop in stock prices will end up as a boon to the economy.

He said it should slow economic growth to a more sustainable level, in turn reducing the risk that a labor shortage will ignite inflation.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.