"Greenspan Sees Economy Headed for
Growth; Warns on Deficit
By Martin Crutsinger
The Associated Press
Wednesday, February 11, 2004; 11:35 AM"
Quoting from The =Washington Post= Article:
"Financial markets tumbled in late January
after the Fed dropped a promise it had
been making since August -- to keep rates
low "for a considerable period" -- and
replaced that phrase with the pledge to
be "patient" before raising rates. However,
markets were bolstered by Greenspan's new
testimony with traders believing it showed
the central bank was still in no hurry to
start raising interest rates.
He said conditions had been helped by a
reduction in geopolitical tensions
Overall, the economy has made impressive
gains in output and real incomes;"
K. P. Collins