Greenspan sees vigorous growth, warns on deficit

In testimony Wednesday 11 February, Fed Chairman Alan Greenspan said the U.S. economy has good odds for sustained robust growth, but that policy-makers can be patient about interest-rate rises. He warned there could be problems "in the relatively near term" if the US budget deficit is not addressed.

"Last year appears to have marked a transition from an extended period of subpar economic performance to one of more vigorous expansion," Greenspan said in testimony prepared for delivery to the Ho