Greenspan: No serious downturn

Fed chairman's prepared remarks see solid economic growth ahead, reaffirms Fed policy.

June 9, 2005: 10:01 AM EDT

NEW YORK (CNN/Money) - Federal Reserve Chairman Alan Greenspan does not see a significant slowdown in the U.S. economy ahead or major risk from a housing bubble, he said in prepared Congressional testimony Thursday.

In remarks prepared for Congress' Joint Economic Committee, Greenspan said earlier warning signs of slower economic growth "were not presaging a more serious slowdown in the pace of activity."

His statement suggested the Fed will retain its policy of regular quarter-point interest rate hikes, as he ended the remarks with a restatement of the central bank's last policy statement.

"Despite some of the risks that I have highlighted, the U.S. economy seems to be on a reasonably firm footing, and underlying inflation remains contained," the remarks said.

Reacção intradiário do DAx Xetra.

Nada de especial, ficou praticamente como estava antes do discurso.