How Bad Is It, Really? - Industry Trend or Event - Brief Article

Industry Standard, The, Feb 26, 2001 by Alex Lash

In a week of dour economic news, Federal Reserve Chairman Alan Greenspan offered slight reassurance, telling the Senate Banking Committee that a recession was not at hand, hut that the economy remained susceptible due to higher energy prices, slowing foreign economies, weak financial markets and the slow response of the communications industries to lower demand.

At the end of the week, regional Fed directors weighed in with cautious optimism that the country was experiencing an "inventory correction," not a recession.