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Greenspan to Offer Outlook Today

July 16, 2002

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WASHINGTON (AP) _ Federal Reserve chairman Alan Greenspan will offer his latest economic outlook for the country in testimony before the Senate Banking Committee today at 10 a.m. EDT.

Fed watchers expect Greenspan to shy away from characterizing the recent market turmoil, and instead to provide an upbeat, balanced view of the economy.

The feeling is that with everyone hanging on the words of the central bank and Greenspan, there’s no way he’ll start saying things that would make people even more concerned.

But don’t look for Greenspan to try and jawbone the markets higher, either. If anything, he’ll draw a distinction between the economy and the stock market.

There is a growing consensus that the Fed will hold the line on any rate hike for the rest of this year. Some economists now wonder whether another cut may even be in the cards.

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