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Politics : Formerly About Applied Materials

AMAT 328.29

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3:59 PM EST

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To: StanX Long who wrote (61624)	3/7/2002 3:25:59 AM
From: StanX Long	of 70976

Greenspan Testimony Likely to Try to Square Forecast With Data By Michael McKee quote.bloomberg.com Washington, March 7 (Bloomberg) -- Recent reports showing the economy is coming out of recession will make it harder for Federal Reserve Chairman Alan Greenspan to justify the restrained Fed growth forecast he's expected to present to the Senate Banking Committee today, analysts say. Greenspan's testimony is likely echo remarks he presented last Wednesday to the House Financial Services Committee. Since then, better-than-expected readings have been reported for factories and service companies, existing home sales, and consumer spending. Fourth quarter economic growth was revised up to a 1.4 percent annual rate from the 0.2 percent pace estimated in January. The Fed chairman told House members he and his central bank colleagues see a ``moderate'' recovery from the country's first recession in a decade, suggesting he's in no hurry to raise the benchmark overnight lending rate from a 40-year low of 1.75 percent. That view may be harder to sell now, analysts said.

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