Greenspan cautious on recovery by Rex Nutting
The U.S. economy is getting better, but faces "significant risks in the near term," Federal Reserve Chairman Alan Greenspan said Friday. In prepared remarks, the nation's top central banker left open the possibility that the Fed might cut rates again to solidify the recovery. "There are sound reasons for concluding that the long-run picture remains bright, and even recent signals about the current course of the economy have turned from unremittingly negative through the late fall of last year to a far more mixed set of signals recently," Greenspan said. "But I would emphasize that we continue to face significant risks in the near term," he said.