Federal Reserve Chairman Alan Greenspan said Wednesday the economy should enjoy sustained growth with low inflation in coming months, a condition that will require continuing incremental increases in interest rates.
Greenspan delivered a basically upbeat assessment of the economy in an appearance before Congress, saying the country had weathered a brief slowdown in the spring when inflation had appeared to be on the rise. And he made clear that the Federal Reserve Board would continue raising interest rates at the same gradual pace it has for the past year.
