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Greenspan warns of stall in economy
Federal Reserve Chairman Alan Greenspan warned that growth was near stalling at the start of the year and that the economy faces downside risks. He argued the economy was not in a recession yet and rejected a retroactive 1.6 trillion tax cut as a recession safeguard while signaling potential further rate cuts. News reflected a cautious Fed stance with retail sales up in January and markets reacting to congressional testimony.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Alan Greenspan
U.S
Greenspan
Fed
David Jones
Aubrey G. Lanston & Co
New York
Jones
Congress
Senate Banking Committee