Federal Reserve Chairman Alan Greenspan said Thursday the U.S. economic expansion is “well under way,” painting a rosier picture than he did just a week ago and essentially declaring the recession over.
The Fed chief told the Senate Banking Committee, in a rare and unexpected revision of his formal semiannual testimony to the House of Representatives Financial Services panel Feb. 27, that the upbeat economic news of the past few days is reason for encouragement.
But he retained a note of caution, telling lawmakers that the recovery would “almost certainly” not log the growth rates of rebounds from past recessions, which he said were an average of about 7 percent.
He also said business spending was a cause for concern.
More Stories From This Author
Newsflash: Sweden is not Switzerland
By Morf Morford mmorford@soundpublishing.com
NO. 23-4-02740-2- PROBATE NOTICE TO...
By Amanda Kahlke amanda.kahlke@tacomadailyindex.com
NO. 23-4-02750-0 -PROBATE NOTICE TO...
By Amanda Kahlke amanda.kahlke@tacomadailyindex.com
NO. 23-4-02746-1- NOTICE TO CREDITORS
By Amanda Kahlke amanda.kahlke@tacomadailyindex.com
Second Cycle Hires New Executive Director
Tacoma, WA – Leon Nettles has been chosen by the Board of Directors to be the next Executive Director of…
November 17, 2023 1:30 am
Au revoir, Godspeed, fare-thee-well
By Danielle Nease, Tacoma Daily Index
By Danielle Nease danielle.nease@tacomadailyindex.com • November 16, 2023 1:30 am
Never Forget Our Vets
By Don C. Brunell
By Don C. Brunell • November 9, 2023 1:30 am