Loosen Your Seat Belt, The Second Half Should Be A Smoother Ride

Alan Greenspan the economist well understands the perils of forecasting. But Greenspan the Federal Reserve Board chairman apparently doesn't. He told Congress on July 20 that growth in second-quarter real gross domestic product "clearly has run in excess of 2.5%." On July 29, the Commerce Dept. reported that real GDP rose a lackluster 1.6%.

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