18 October 2001, 11:21  Greenspan Says Econ Not as Weak as Feared

Though hit hard by the terrorist attacks, the economy is not as weak as many feared and has "started to come back," Federal Reserve Chairman Alan Greenspan said Wednesday. Greenspan, testifying before the Joint Economic Committee of Congress, said business is having to make costly adjustments to previously underpriced terrorist risks and said this will mean a temporary reduction in productivity, but he anticipated that these adjustments will take "months" or at most "quarters," not years.

© 1999-2024 Forex EuroClub
All rights reserved