Conduct of Monetary Policy
Mr. Greenspan, chairman of the Federal Reserve, delivered his semi-annual report on the Federal Reserve’s regulation of domestic… read more
Mr. Greenspan, chairman of the Federal Reserve, delivered his semi-annual report on the Federal Reserve’s regulation of domestic monetary policy, and in the process gave his assessment of the direction the economy is heading. He said the economy was improving as indicated by the end of the recession, a slowing of inflation, and progress in the federal deficit and private debt. Although evidence of the economy’s expansion was “limited,” he said the U.S. was on its way to an economic recovery. Mr. Greenspan is required to testify on U.S. domestic monetary policy every six months by law. He predicted slight rises in the Gross National Product (GNP), inflation, and unemployment rates in the fourth quarter of 1991. He also indicated the Federal Reserve would make no changes in the interest rate in the near future, and spoke highly of President Bush’s knowledge and grasp of financial matters. close
*The transcript for this program was compiled from uncorrected Closed Captioning.
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- Alan Greenspan Chair Federal Reserve->Board of Governors
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