Central Banking

Greenspan congratulated for good year's work

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Federal Reserve Chairman Alan Greenspan and his colleagues got high marks from private economists for their actions in 2003, a year mired by war, a falling inflation rate and uncertainty.

The main critique from the 60 economists surveyed by USA TODAY was that Fed officials didn't do a good job communicating to the public. But surprisingly nearly three-quarters of the economists said a move to inflation targeting, which is intended to make their thoughts and actions clearer, was not the answ