Monetary Policy Report
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According to Alan Greenspan in his testimony March 2, 2005, before the Committee on the Budget, U.S. House of Representatives, economic activity ôappears to be expanding at a reasonably good pace.ö He stated, however, that there is some concern about the deficits running 3.5% of GDP. Since homeland security spending is not expected to continue at the current pace, an effort should be undertaken to reduce the deficit (Greenspan, 2005). The Monetary Policy Report to the Congress echoed Mr. GreenspanÆs sentiments, pointing to a rise in employment and ôbuoyantö household spending (Monetary Policy Report, 2005). The overall economic outlook is favorable.The Federal Reserve seems to be more concerned about inflation than rec
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Approximate Word count = 489
Approximate Pages = 2 (250 words per page)
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