USA: Recession ending, recovery sluggish says Greenspan - paper
Alan Greenspan, the United States Federal Reserve bank#;s chairman, said yesterday that the recession appeared to be ending but that the recovery was likely to be sluggish, according to the New York Times (NYT). The NYT said that analysts and economists took Greenspan#;s forecast to mean that the central bank would leave interest rates unchanged at least until the middle of the year, after cutting rates 11 times last year as the economy slipped into the first recession in a decade.
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