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		Home Page We're about Mortgage News You Can Use   Greenspan: Flexible economy will replace jobs Washington-AP -- Alan Greenspan says the U-S economy is flexible enough to replace jobs that were lost in the last recession. The Federal Reserve chairman says however that laid-off workers may need to be retrained to qualify for new work. Greenspan's comments came in a speech prepared for an economic conference in London. The central banker, in his comments, addressed fears that many of the two-point-eight (m) million manufacturing jobs lost in the past three and a-half years could be gone forever to lower wage countries. He said competition from low-wage countries was not a new development. He said that in the 1950s and 1960s, there was concern that American jobs were migrating to Japan and then Mexico. Greenspan's comments came a day before the Federal Reserve begins a two-day policy-setting session in Washington. He made no mention of monetary policy. Copyright 2004 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.   Back to Original Article: Mortgage News You Can Use   Continue with: US Treasury's Snow: Global growth to top G7 agenda US TREASURY OUTLOOK-Consumer mood is market focus What the Fed is considering at FOMC meeting Hill budget office sees 10-year deficits totaling nearly $2.4 trillion Dollar Trade Choppy Before G7 Meeting Major business and economic events Economic growth could be derailed by soaring energy prices
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