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WEDNESDAY JULY 20
Alan Greenspan Chairman Board of Governors of the Federal Reserve Sys
Monetary Policy Report to Congress
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abroad adjustments aggregate Alan Greenspan American annual rate average balance billion budget central bank Chairman Greenspan Committee concerned Congress considerable consumer price consumer price index continued costs countries currency debt decline deficit demand dollar domestic economic growth economy effect evidence expansion expected Federal funds rate Federal Reserve Board Federal Reserve System financial markets fiscal policy FOMC fourth quarter going gold half higher households income increase indicated inflation inflationary pressures inventory investment investors issue June long-term interest rates ment monetary base monetary policy monitoring range months mortgage move mutual funds nomic OPENING STATEMENT outlays pace Percent change percentage point policymakers price stability productivity quarter of 1994 real GDP recent remained Reserve Bank reserve currency Reserve's rise rose sector Senator Mack Senator Sarbanes Senator Sasser short-term slowed spending substantial Thank there's tion Treasury unemployment rate United