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Greenspan says rate rises inevitable as economy gains steam
Federal Reserve Chairman Alan Greenspan told Congress that extra-low rates must rise at some point as the economy strengthens. He cited strong March job gains totaling 308,000 and renewed pricing pressures from a weaker dollar and a stronger global economy while stressing inflation remains low. Analysts expect an August rate hike, though Greenspan gave no timetable.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Alan Greenspan
Greenspan
Congress
Joint Economic Committee
U.S
Federal
Central Bank
Fed
Stuart Hoffman
PNC Financial Services Group
Sherry Cooper
BMO Nesbitt Burns
Senate Banking Committee
Wall Street