13 Feb 2004 Mr. Greenspan sends investors a Happy Valentine’s present
Posted at 16:06h
in The Friday Brief
In his testimony before committees of the House of Representatives on Wednesday and the Senate yesterday, Federal Reserve Chairman Alan Greenspan delivered essentially the same message. The extraordinary pace of productivity has reduced the need for companies to hire workers, but the lengthy spell of jobless growth is "atypical" compared to previous cycles. In his view employment should be "expanding at a reasonably good clip within a short period of time."