U.S.: The Gospel According To Greenspan

The chairman lays out the Fed's 1997 "favorable" forecast

It must have been a very pleased Alan Greenspan who appeared before the Senate Banking Committee on Feb. 26 to talk about monetary policy. After all, the Federal Reserve chairman projected that the economy's 1996 mix of solid growth and low inflation would continue in 1997. But the Fed chief also took the opportunity to air his concerns about the stock market and whether the era of job insecurity is ending.

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