The U.S. Economy is Improving
The U.S. economy is improving but at a modest pace, according to Federal Reserve chairman Alan Greenspan, who submitted testimony on Feb. 27 to the House Committee on Financial Services. Greenspan said signs of recovery have been “firming” the economy but the outlook remains cautious. In past recessions, consumer spending has fueled recovery, but consumer spending remained strong throughout the downturn of the past year, Greenspan noted.
