Greenspan upbeat on US recovery

US - Alan Greenspan, the chairman of the US central bank, has said that the US economic recovery is well under way.

In his most optimistic statement yet, the influential central banker told the Senate Finance Committee that "recent evidence increasingly suggests that an economic expansion is already well under way".

It was a highly unusual revision of Mr Greenspan's testimony just one week ago to the House of Representatives where he sounded a more cautious note.

Normally Mr Greenspan makes t