PublicIssue, Greenspan press release, July 15, 2003

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Alan Greenspan makes another ridiculous, late-in-coming, statement. Sometimes I have to ask myself what country does Greenspan live in? He's so far out of touch with reality. Cut the prime rate to 1%, suggest to the banks and credit unions to lower their lending rate from 3% over prime to 1.5% and get the economy back on track!

AP coverage of today's Greenspan press release below.

Greenspan Says Fed Could Cut Rates Again
WASHINGTON (AP) - The Federal Reserve stands ready to reduce interest rates even further if necessary to boost the sluggish economy and guard against a destabilizing fall in prices, Federal Reserve Chairman Alan Greenspan said Tuesday. In remarks prepared for delivery to Congress, Greenspan said that the Fed was prepared to leave interest rates at low levels "for as long as it takes" - even though rates are at a 45-year low. The goal would be to get the economy growing at a faster pace, he said.

AP Top News at July 15, 2003 10:13 a.m. EDT

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