Cleared For A Soft Landing

Once again, the economy seems to be responding to Greenspan's tuning

When Federal Reserve Chairman Alan Greenspan treks to Congress on July 20 to deliver his semiannual review of the U.S. economy, he is likely to sound every bit the cautious central banker. Despite a spate of indicators pointing to a slowdown, the Fed chief is expected to insist that it's too soon to declare victory in the year-long campaign to rein in runaway growth. He may even cluck about the inflationary peril posed by the nation's insatiable appetite for workers.

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