12 February 2004, 18:06  Greenspan's Senate testimony same as House

WASHINGTON, Feb 12 - Federal Reserve Chairman Alan Greenspan was set to deliver on Thursday prepared testimony to a U.S. Senate committee that was identical to remarks he made a day earlier before a House of Representatives panel. In his prepared remarks to the Senate Banking Committee, Greenspan said the U.S. economy appeared to have turned the corner to more vigorous growth. He also said, however, that the Fed could be patient in deciding when to raise interest rates from 1958 lows. "With inflation very low and substantial slack in the economy, the Federal Reserve can be patient in removing its current policy accommodation," he said. Greenspan was to take questions from members of the committee after delivering his prepared testimony at a hearing scheduled to begin at 10 a.m. (1500 GMT).||

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