Wednesday, July 21, 2004

Greenspan Offers Upbeat Assessment of the Economy

Yesterday Allen Greenspan offered an upbeat assessment of the economy, which sent stocks higher. Greenspan noted that the softness in economic numbers for June were due to temporary factors such as high energy prices, but stated that:

"Not only has economic activity quickened, but the expansion has become more broad-based and has produced notable gains in employment"

Greenspan noted that while the numbers for June were soft, numbers for July had already improved, and that the outlook for the future was good.

This is good news for the country and the president.

Be sure to check the current posts for updates.