A Still-Wary Fed Chief

Greenspan's cautious tone in his Apr. 17 testimony offered more evidence that the Fed will put off an interest rate hike until at least August

The money phrase in Federal Reserve Chairman Alan Greenspan's Apr. 17 testimony before the Joint Economic Committee of Congress suggested that the Federal Open Market Committee can go slowly in hiking interest rates. The Fed chief said that "to be sure, over time, the current accommodative stance is not likely to be consistent with maintaining price stability."

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