Greenspan: No Strong Rebound from Shallow Recession
Enviado: 16/7/2003 18:39Greenspan: No Strong Rebound from Shallow Recession
WASHINGTON (Reuters) - Federal Reserve Chairman Alan Greenspan on Wednesday said the shallow nature of the U.S. recession that began in 2001 has meant the economy is less likely to enjoy the usual strong rebound in growth as it recovers.
"This is a very unusual cycle. As you well know, the recession has been very shallow and, as a consequence of that, you can't have a kickback from a non-significant recession," Greenspan said in remarks during an appearance before a Senate panel as part of his twice-a-year report to Congress on monetary policy.
Copyright © 2003 Reuters Limited.
WASHINGTON (Reuters) - Federal Reserve Chairman Alan Greenspan on Wednesday said the shallow nature of the U.S. recession that began in 2001 has meant the economy is less likely to enjoy the usual strong rebound in growth as it recovers.
"This is a very unusual cycle. As you well know, the recession has been very shallow and, as a consequence of that, you can't have a kickback from a non-significant recession," Greenspan said in remarks during an appearance before a Senate panel as part of his twice-a-year report to Congress on monetary policy.
Copyright © 2003 Reuters Limited.