Greenspan upbeat about economy

May 1, 2003
With the war in Iraq over, Federal Reserve chairman Alan Greenspan told Congress he expects a "noticeably better" growth rate for the economy, but isn't sure about when the recovery will begin or how big it will be. Greenspan said President Bush's proposed $726 billion tax cut is also not needed to stimulate the economy. Tax cuts without concurrent reductions in federal spending will eventually boost
With the war in Iraq over, Federal Reserve chairman Alan Greenspan told Congress he expects a "noticeably better" growth rate for the economy, but isn't sure about when the recovery will begin or how big it will be.

Greenspan said President Bush's proposed $726 billion tax cut is also not needed to stimulate the economy.

Tax cuts without concurrent reductions in federal spending will eventually boost deficits and pressure the Fed to raise interest rates to slow inflation, Greenspan said.

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!

Sponsored Recommendations

Report: The 2024 State of Heavy-Duty Repair

From capitalizing on the latest revenue trends to implementing strategic financial planning—this report serves as a roadmap for navigating the challenges and opportunities of ...

Fleet Industry Benchmarks: How does your fleet stack up?

Discover how your fleet compares to industry benchmarks and gain insights from a 2024 Benchmarking Report on maintenance spend, turnaround time, and more. Join us to identify ...

Build a Tolling Program to Manage Toll Fees and Risks

Fleets looking to effectively manage their operational costs should consider their tolling costs. Download the PrePass whitepaper, “Build a Tolling Program to Manage Toll Fees...

Reducing CSA Violations & Increasing Safety With Advanced Trailer Telematics

Keep the roads safer with advanced trailer telematics. In this whitepaper, see how you can gain insights that lead to increased safety and reduced roadside incidents—keeping drivers...