GREENSPAN: WAR THREAT HURTS ECONOMY
WASHINGTON (AP) . Federal Reserve Chairman Alan Greenspan said Tuesday that uncertainties about a war with Iraq represent the biggest cloud hanging over the nation's struggling economy.
Consumers have been keeping the economy going. But businesses . worried about the war and other economic uncertainties . have been reluctant to make big commitments in capital investment and hiring, forces restraining the recovery, Greenspan said in presenting the Fed's semi-annual economic report card to Congress.
``The intensification of geopolitical risks makes discerning the economic path ahead especially difficult,'' Greenspan said in prepared testimony to the Senate Banking Committee.
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