The U.S. economy is rebounding so rapidly it forced Federal Reserve Chairman Alan Greenspan to make major positive revisions in his Feb. 27 report to Congress, telling the Senate Banking Committee Thursday morning the contraction phase "has drawn to a close." In his testimony, Greenspan added new language that signals a more buoyant view of the American economy than the one he presented just a week ago. "The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed," Greenspan said in words added to his previous testimony. Greenspan also added another positive phrase: "We have seen encouraging signs in recent days that underlying trends in final demand are strengthening, although the dimensions of the pickup remain uncertain."