Monetary Policy, the Economy and the Budget

The committee heard testimony from Alan Greenspan, chairman of the Federal Reserve Board, on the U.S. monetary policy and the current recession. Mr.… read more

The committee heard testimony from Alan Greenspan, chairman of the

Federal Reserve Board, on the U.S. monetary policy and the current

recession. Mr. Greenspan stated that in order to maintain the fiscal

policy necessary for ending the recession, Congress should not raise

taxes to cover the cost of the Persian Gulf war. He said he

preferred not to make major policy decisions, like raising taxes or

cutting spending, because the economic situation in relation to the

war and the recession are unclear, and major policy decisions would

be risky.

Mr. Greenspan would not speculate on the course of action to be taken

by the Federal Reserve regarding interest rates, but did say that

further action would be necessary if the Federal Reserve’s recent

lowering of short-term interest rates did not increase the nation’s

money supply. close

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Monetary Policy, the Economy and the Budget

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Program ID:
15842-1
Category:
House Committee
Format:
House Committee
Location:
Washington, District of Columbia, United States
First Aired:
Jan 22, 1991 | 10:00am EST | C-SPAN 1
Last Aired:
Jan 23, 1991 | 6:30am EST | C-SPAN 2

Airing Details

  • Jan 22, 1991 | 10:00am EST | C-SPAN 1
  • Jan 22, 1991 | 10:25pm EST | C-SPAN 2
  • Jan 23, 1991 | 6:30am EST | C-SPAN 2
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Monetary Policy, the Economy and the Budget

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