Chapter 9 - Assignment 3: Alan Greenspan's February 1998 Report
Twice each year, the Chair of the Federal Reserve Board of Governors is required to provide a
report to Congress on the state of the economy. Read Alan Greenspan's
February 1998 report.
- How does Greenspan characterize the overall state of the economy at the time of the report?
- Based on Greenspan's testimony, what changes did he perceive occurring in aggregate demand
and supply last year?
- Based on this testimony, did Greenspan believe that the economy was operating at potential
GDP, below potential GDP, or above potential GDP at this time? Explain.
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