Greenspan Says Economy on Fairly Firm Ground

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Federal Reserve Chairman Alan Greenspan said on Thursday that with the U.S. economy on a “reasonably firm footing” and underlying prices tame, policy-makers should be able to raise interest rates at a measured pace.


The Fed chief noted that slower productivity growth was pushing up U.S. labor costs and said it was an “open question” whether the rise would feed into inflation or hit corporate profits.


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