Alan Greenspan 'S Remarks, As Prepared for Delivery Before the House Financial Services Committee
Political Transcript Wire › August 03, 2009
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Alan Greenspan 'S Remarks, As Prepared for Delivery Before the House Financial Services Committee
CHAIRMAN GREENSPAN'S TESTIMONY, AS PREPARED FOR DELIVERY BEFORE THE HOUSE FINANCIAL SERVICES COMMITTEE
FEBRUARY 17, 2005SPEAKER: ALAN GREENSPAN, CHAIRMAN, BOARD OF GOVERNORS, FEDERAL RESERVE SYSTEM[*] GREENSPAN: Mr. Chairman and members of the Committee, I am pleased to be here today to present the Federal Reserve's Monetary Policy Report to the Congress. In the seven months since I last testified before this Committee, the U.S. economic expansion has firmed, overall inflation has subsided, and core inflation has remained low. Over the first half of 2004, the available information increasingly suggested that the economic expansion was becoming less fragile and that the risk of an undesirable decline in inflation had greatly diminished. Toward midyear, the Federal Reserve came to the judgment that the extraordinary degree of policy accommodation that had been in place since the middle of 2003 was no longer warranted and, in the announcement released at the ...See the full content of this document
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