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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: j-at-home who wrote (250119)	7/15/2003 11:49:44 AM
From: Giordano Bruno	Respond to of 436258

He may be hitting the juice... Greenspan says Fed ready to cut rates further if needed By Greg Robb WASHINGTON (CBS.MW) - Federal Reserve board chairman Alan Greenspan said the Fed was willing to cut rates further if the economy continues to struggle. "Should we find that it is required in the months ahead to significantly ease conventional monetary policy further -which if necessary - we would do," Greenspan said. The Fed chairman once again raised the possibility that the Fed would purchase longer-term securities if the target for the federal funds rate approached zero percent. "If we got to a point where we found conventional policy left us very little room, we have the tools...to move in significant other ways to expand the balance sheet of the Federal Reserve and one of the vehicles would be moving out on the maturity schedule and purchase securities which we might not otherwise be purchasing."