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Greenspan Gives Optimistic Speech Despite Market Anxiety.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, October, 2000 by Blanton, Kimberly
Oct. 20--Federal Reserve Board chairman Alan Greenspan injected calm into the tumult on Wall Street and the tensions on the world stage, delivering a speech with the message that all is right with the U.S. economy.
Greenspan's optimistic speech, along with some strong earnings reports from major technology companies, sent the stock market rebounding. He said the impact on inflation of spiraling oil prices has been "nil" and consumer spending remains strong. Addressing the nation's chief inflation threat -- rising oil prices -- he also hinted that crude prices, in the long term, may decline due to technologies that would make oil more readily available.
Greenspan has argued often in recent months that rising productivity in the U.S. economy, due to an...
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