Greenspan says debate, openness must be balanced

Federal Reserve chairman Alan Greenspan said in response to questions from Congress that the FOMC works hard to balance policymakers' need to have private discussions about economic matters and investors' desire for transparency.

"The Federal Reserve's current practices strike a reasonable balance between transparency and the degree of confidentiality appropriate" for policymaking, the Fed chief said in written responses to a series of questions posed by Rep. Jim Saxton, R-N.J., chairman of Co