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June 4, 2002: Greenspan Says U.S. Economy On ‘Upswing’

June 4, 2002
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MONTREAL, PQ, Canada — In a panel discussion on central banking here, Federal Reserve Chairman Alan Greenspan said that there has been no change in the Fed’s outlook on the economy since January. The outlook is optimistic.

“I suspect the American economy is in an upswing. It’s not going to be a dramatic upswing,” he stated.

Greenspan acknowledged that the U.S. economy isn’t likely to match the first quarter’s 5.6% growth rate, noting that he prefers to wait for more signs of strong and sustainable demand for products and services.

Publication date: 06/03/2002

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