U.S. Economic Outlook
Alan Greenspan, Federal Reserve Board Chairman, testified about the status of the U.S. economy. The Federal Reserve Board regulates the prime… read more
Alan Greenspan, Federal Reserve Board Chairman, testified about the status of the U.S. economy. The Federal Reserve Board regulates the prime interest rate which banks pay to borrow money. Some committee members implied that the FRB has no controls and is a power unto itself. Others disagreed with Chairman Greenspan’s methods of assessing the health of the economy and thought the four small raises in the prime rate since January were unnecessary. close
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