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The Fed's delicate balancing act

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This article published in the FT looks at Alan Greenspan's half-yearly testimony before the House Financial Services Committee on Tuesday. On the whole, it says, he succeeded in clarifying his goals.

First published in the Financial Times, 16 July 2003.

Though his pronouncements on the US economy are often models of Delphic inscrutability, Alan Greenspan, the Federal Reserve chairman, has earned a reputation over the years as a highly effective communicator of the US central bank's judgments and

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