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Greenspan Expresses Stock Worries

January 20, 1999

WASHINGTON (AP) _ While calling the economy’s current performance ``outstanding,″ Federal Reserve Chairman Alan Greenspan expressed worries today that the high-flying stock market could be headed for a tumble that could spell serious trouble down the road.

Greenspan, in testimony before the House Ways and Means Committee, said nothing to directly indicate whether the Fed would be changing interest rates any time soon.

But his expressions of concern about the altitude of the stock market gave support to views that the central bank is not likely to rush to cut rates further unless global turmoil sends markets into a severe downturn such as occurred last fall.

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