Greenspan says monetary policy still works

US - Federal Reserve Chairman Alan Greenspan said today, 24 July, that changes in monetary policy are still able to boost the economy, even as the U.S. economy has continued to drag after a series of Fed rate cuts.

"The complexity of our economy is such, and the way liquidity flows through the system is such, that you essentially get very complex differences in the way monetary policy plays out. But, at the end of the day, it does seem to be effective," Greenspan said in an appearance before the

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