Asian Monetary Instability
Committee members heard testimony from Federal Reserve Chairman Alan Greenspan regarding the vulnerability of Asian markets. Deputy Secretar… read more
Committee members heard testimony from Federal Reserve Chairman Alan Greenspan regarding the vulnerability of Asian markets. Deputy Secretary Lawrence Summers and other economists also testified about the impact of Asian markets on the U.S. economy. The New York Stock Exchange suffered a significant loss a few weeks before this hearing following a panic in the Asian markets. close
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