Greenspan not worried over oil price

In a speech titled 'Oil' given on 15 October Fed chairman Alan Greenspan said the current surge in energy prices is likely to have far less of an impact on the economy than the oil shocks of the 1970s.

"We and the rest of the world doubtless will have to live with the uncertainties of the oil markets for some time to come," Greenspan said in remarks to the National Italian American Foundation in Washington.

However, Greenspan warned, "Obviously, the risk of more serious negative consequences

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