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To: mact who wrote (445)7/27/1999 3:53:00 PM
From: Mohan Marette  Read Replies (1) of 817
 
Greenspan text to be same as last week-Fed

WASHINGTON, July 27 (Reuters) - Federal Reserve Chairman Alan Greenspan's prepared remarks before the Senate Banking Committee on Wednesday will be the same as he delivered to a House of Representatives panel last week, a Fed spokesman said.

The powerful central banker is due to deliver the second part of his mid-year monetary policy report to the Senate Banking Committee at 10:00 a.m. EDT (1400 GMT). The first part of his presentation was last week, before the House Banking Committee.

''He will repeat his remarks,'' the spokesman said.

Greenspan will have an opportunity to expand on his thoughts during a question-and-answer session with Senators once he has delivered his prepared testimony.

Greenspan's twice-annual report on the Fed's economic outlook and rate policy is known as the Humphrey-Hawkins testimony after the two lawmakers who drew up the 1978 bill that makes the Fed accountable to Congress.

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