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.
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