Greenspan optimistic on US economy

US Federal Reserve chairman Dr Alan Greenspan, in his address to the Senate Banking Committee, expressed his confidence in the present state of the US economy.
Dr Greenspan is of the opinion that the Asian slowdown will restrain US inflation at a time when domestic demand has “considerable momentum.” Associate director of the Conference Board, Ms Lynn Franco agreed, saying “balanced strength in the US economy combined with a rosy job outlook are major factors in lifting consumer spirits and confidence.”
But Dr Greenspan also took note of potential dangers in the economy, issuing a warning to lenders “who have been willing to transact at historically small margins and in large volumes.”

Advertisement