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To: Haim R. Branisteanu who wrote (30500)	5/20/2005 2:12:28 PM
From: mishedlo	Read Replies (2) \| Respond to of 116555

Greenspan: Fed funds rate is not already above neutral Friday, May 20, 2005 5:50:38 PM afxpress.com WASHINGTON (AFX) -- Fed chief Alan Greenspan said he does not agree with economists who might argue that the Fed funds rate has already risen above the so-called neutral level. "At the moment, we are not in agreement with those who you quote," Greenspan said when asked to comment on the arguments from some economists that the string of eight straight quarter point rate hikes has brought the Fed funds rates above neutral. The neutral rate is the level of interest rates that allows for steady growth without inflation. The Fed stated after its latest meeting on May 3 that the Fed funds rate remains accommodative, or below the neutral level