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In the News
24 February 1998 - International [Us]
Federal Reserve Chairman Alan Greenspan delivers his semi-annual Humphrey-Hawkins testimony to Congress. He describes the outlook for the US economy in 1998 as highly uncertain, with risks finely balanced between a renewal of inflationary pressures and a sharp slowdown that could damp overall economic activity and prices. He believes that the most likely scenario is that "storm clouds" over Asia will slow growth in 1998 by just enough to keep inflation subdued. However, he acknowledges that the final effects of the Asian crisis are uncertain and indicates that there could be significant turbulence.
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