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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Lucretius who wrote (268169)11/20/2003 9:24:12 AM
From: MythMan  Read Replies (3) of 436258
 
>>Greenspan sees no dollar plunge

Fed Chairman says wide U.S. trade gap can be corrected in orderly way; warns against protectionism.
November 20, 2003: 9:15 AM EST


NEW YORK (CNN/Money) - Federal Reserve Chairman Alan Greenspan said Thursday that the wide U.S. trade gap can be corrected without a worrisome plunge in the dollar's value, though he warned against the recent rise of "creeping protectionism."

In a speech delivered to the libertarian Cato Institute in Washington, Greenspan disagreed with some economists who worry that the U.S. current account deficit -- the broadest measure of international trade -- which has widened to about 5 percent of gross domestic product (GDP), will lead to a sharp dollar correction that would roil financial markets.
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