Greenspan: US economy is picking up

US - The US economy seems finally to be climbing out of recession, Federal Reserve chairman Alan Greenspan said.

Mr Greenspan's comments, made in testimony to the US Senate's Budget Committee, were more upbeat than those in a speech in San Francisco on 11 January.

Then, Mr Greenspan warned that "significant risks" continued to threaten recovery in the short term.

There was no reference to the risk this time, a decision which some observers are taking as a hint that the Fed's next meeting - taking

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