Greenspan says US economy on fairly firm ground

Federal Reserve Chairman Alan Greenspan told the US Congress on Thursday 9 May that the US economy seems to be on a "reasonably firm footing," with inflation under control.

"The U.S. economy seems to be on a reasonably firm footing, and underlying inflation remains contained," Greenspan said in testimony to the congressional Joint Economic Committee.

Greenspan said because of this the Fed was able at its last meeting to repeat a pledge it has been making for the past year that it will be able

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