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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: lindelgs who wrote (29895)	1/25/2001 2:05:52 PM
From: stockman_scott	Respond to of 65232

Greenspan Says Risk of U.S. Recession Low Thursday January 25, 1:57 pm Eastern Time WASHINGTON (Reuters) - U.S. Federal Reserve Chairman Alan Greenspan said on Thursday there was only a low risk of recession in the U.S. economy even though growth has slowed markedly recently. ``It is a low probability. Recessions are low probability, they are rare and they happen for numbers of different reasons,'' Greenspan said responding to questions from the Senate Budget Committee. ``But clearly if they do (happen) it is better to have taxes lower rather than higher to confront it and to turn it around as quickly as possible,'' Greenspan said, referring to the effect a tax cut could have on a possible recession. With the U.S. economy slowing faster than many had expected, the Fed slashed interest rates by a half of a percentage point in early January to head off the possibility of recession. But Greenspan and other Fed officials have played down the chance of a recession, saying they stand ready to act as swiftly as necessary to buoy the U.S. economy.