Greenspan testimony-unsure about consumer optimism

Federal Reserve Chairman Alan Greenspan offered a gloomier assessment of the U.S. economic outlook on Feb 28, 2001, suggesting he no longer is sure that consumer confidence is strong enough to keep the country out of a recession and hinting that the Fed will cut interest rates quickly in coming months.

"Changes in consumer confidence will require close scrutiny in the period ahead, especially after the steep falloff of recent months," Greenspan said in testimony to the House Financial Services

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