Greenspan On The Hill

NPR's Jim Zarroli reports that Federal Reserve Chairman Alan Greenspan told lawmakers on Capitol Hill today the economy has slowed sharply from its rapid first quarter growth rate of 5.4 percent. Greenspan characterized the slowdown as a "transition to a more sustainable rate of growth," and said he was not overly concerned about a major economic contraction in the U.S. Federal Reserve policy makers need to continue monitoring events in Asia very closely, however.



Please keep your community civil. All comments must follow the Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.

NPR thanks our sponsors

Become an NPR sponsor

Support comes from