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Apr. 17, 2002: Greenspan Sees No Immediate Interest Rate Hike

April 17, 2002
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WASHINGTON, DC — Federal Reserve Chairman Alan Greenspan told a Congressional Joint Economic Committee on Wednesday that he is in no hurry to raise interest rates, citing an existing solid groundwork for economic growth.

“The foundation for economic expansion has been laid,” he said.

Greenspan added it is likely that interest rates would have to be raised in the future but noted, “The Federal Reserve will have ample opportunity to adjust policy, once sustained, solid economic expansion is in view.”

Publication date: 04/15/2002

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