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To: TWICK who wrote (16174)	4/22/2002 9:06:59 PM
From: Susan G	Respond to of 26752

Greenspan is speaking tonight... Can't the guy take a vacation <G> Monday April 22, 9:00 pm Eastern Time Reuters Business Greenspan Sees Capital Spending Recovery NEW YORK (Reuters) - Federal Reserve Chairman Alan Greenspan said on Monday he saw early signs of a recovery in business capital spending but warned that he did not believe the corporate investment rebound would be rapid. Greenspan said capital spending is crucial to a solid recovery in the U.S. economy because there will not be the same degree of pent-up consumer demand as there has been in past rebounds from recession. ``The sharp reduction in capital investment in recent quarters has been driven largely by a marked contraction in corporate profitability. That appears to be changing at this particular stage and we're seeing the early signs of a recovery in capital investment,'' Greenspan said in response to audience questions after delivering a speech via satellite to a conference sponsored by the Institute of International Finance in New York. ``I would be doubtful that the recovery is going to be rapid and in general (of) the overall economic recovery being rapid,'' he cautioned.