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		Home Page Mortgage News You Can Use Greenspan Senate Testimony Mirrors House Assessment Thursday February 12, 10:31 am ET By Joseph Rebello, Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--Federal Reserve Chairman Alan Greenspan predicted Thursday that U.S. employers will boost their hiring efforts this year as the economy continues its "robust" recovery, although he warned that the widening federal budget deficit could hurt private investment. In the second leg of a semiannual report on monetary policy to Congress, Greenspan told the Senate Banking Committee that strong economic growth expected in 2004 will spur employers to hire workers "more quickly" than they have so far. But inflation will remain tame, allowing the Fed to be "patient" and avoid rapid increases in interest rates, he said. That assessment was identical to the one Greenspan delivered Wednesday to the House Financial Services Committee. But Greenspan warned the U.S. economy isn't entirely out of danger, and he identified the widening federal budget deficits as an important risk - "even in the relatively near term." The budget deficit is expected to total a record $521 billion in fiscal 2005. The Bush administration expects it to shrink in half by 2009. But Greenspan said if investors begin to doubt Congress's will to cut the deficit, long-term interest rates could rise considerably. "Looking forward, the odds of sustained robust growth are good, although, as always risks remain," Greenspan said. "The Congress can help foster sustainable expansion by taking steps to reduce federal budget deficits and thus contribute to national saving and by continuing to pursue opportunities to open markets and promote trade."   Back to Original Article: News You Can Use   Continue with: U.S. sales down, jobless claims up in latest data U.S. Treasuries, Thursday, Feb 12 Foreign fund inflows to Japan soar in January Greenspan says must provide skills for better jobs Retail Sales Excluding Autos in U.S. Rise 0.9 Percent, Most in 5 Months Mortgage Rates at a Near Standstill U.S. mortgage rates unchanged Wednesday - BestInfo Budget deficits a risk to low interest rates, Greenspan says Bad Credit Home Loan Secrets Officials order new mutual fund reforms Greenspan provides fuel for dollar decline Dollar, gold mixed in Europe U.S. Treasury Bond Prices Higher
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