Snow says Fed is wise to hold off rate rise

Alan Greenspan and his Federal Reserve colleagues have been "extraordinarily disciplined" and have not overreacted to signs of increased economic growth by raising interest rates, US Treasury Secretary John Snow has said.

Snow said in speech on Monday 8 March that low inflation has allowed the Fed to delay hiking the federal funds rate.

"With core inflation as low as it is, it's really strikingly low, those impulses aren't there and they have been extraordinarily disciplined, I think, in watchi