Greenspan eyes more rate cuts to spur economy
Fed Chairman Alan Greenspan told Congress that rates may stay at historic lows and could fall further to revive the sluggish economy. He noted June's 1 percent funds rate as a base and signaled readiness to maintain an accommodative stance while awaiting tax cuts and momentum in the second half.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Fed
Alan Greenspan
Congress
Greenspan
Bush
Federal Open Market Committee
House Financial Services Committee
FOMC
Fed Poli
Stocks fall as Greenspan signals cautious optimism
Wall Street slid after Federal Reserve Chair Greenspan said the economy should grow faster by year end but warned deflation remains a risk. Analysts wondered if higher rates loom, while others booked profits after weeks of gains. The Dow dropped 0.5 percent, Nasdaq and S&P 500 also eased amid resistance near 1000 on the S&P. The Fed signaled readiness to cut again if needed and forecast a stronger recovery in late 2003 and 2004.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Federal Reserve
Alan Greenspan
Greenspan
Russ Koesterich
U.S
State Street Corp
Standard & Poor
Dow Jones Industrial
Fed
Bush
Crude futures rise on inventory fears and hurricane impact
Crude futures climbed to the week’s high as traders priced in potential stock declines from upcoming weekly reports. Hurricane Claudette caused offshore output concerns but largely spared Texas refineries, with August Nymex light sweet settling at 31.62 and Brent at 29.17.
MENTIONED IN THIS ARTICLE
New York
Ed Silliere
Energy Merchant Corp
Lilliere
Texas
Tim Evans
1Fk Pegasus
Nymex
London
International Petroleum Exchange
Brent
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Jeannine Aversa
The
Associated Press
Sankrate.com
Hope Yen
Pheto
Anne Ryen
Marlg Schrieber
Chicago Mercantile Exchange
Em Sarai
Acampus
Moser Hall
College Wan. Les.edu
Lee College
Allstate ApliMatl Ashlang
Dow Jones
Uly
Cho
Jan Core
Cihers van Sama
Lippar, Inc
Alenson
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Polatis
Boeing
Sgt Sue NY
ShermTex Oe
NS Sunair
NwCap
Mediasin
YakGomn
Deter Nash
ForestLhs
Shelbp
TelBrdge
Wilislf
Dawthm
QuPont
Wore
DukeEgg
Lucent
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Cisco
RemaGold
Microsoft
GenEe Wwa
Ercilll
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Ag Motorala
iSt
Japan
Oracle
JDS
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Fia
Asbes eSeamass
Kroger NY
Lubizot NY
Lyell
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Pfizer
Propits
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Sears
Sclutz
Southnoo NY
Swett
Amnex
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Emco NY
Tyockett NY
Anteviy
Veritas
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Wallart My
WeisFigo
Reneal
JUN Daily
Hich
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QTC
Claudette
Texas Gulf Coast
National Hurricane Center
Miami
Port O'Connor
Caute
Uinvestment PasstoNars Inc, Bennemise
Barbers Hills High
Jennifer Marcontell
Decker Baytown
Edward Jones
Rying
Pat Ee Au
Tar Beg
Stephen V. Takach
Alexander
Baytown
EdwardJones
Baytown Sun
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