Greenspan's testimony at nomination hearing

In his nomination hearing testimony to the US Senate on 15 June Alan Greenspan of the Federal Reserve said the Federal Reserve must stand ready to deal with a large number of possible threats to the economy, including another terrorist attack on U.S. soil. He said he and other Fed policy-makers learned a great deal about how to manage the economy through such an episode.

Greenspan, nominated by President Bush for a fifth term as chairman of the Federal Reserve, made his remarks in prepared

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