Greenspan says US economy has stalled

Abu Dhabi News.Net
Monday 25th February, 2008

Former US Federal Reserve chief, Alan Greenspan, has described growth as being at “zero”.

Greenspan told an investment conference in Saudi Arabia the US is at stall speed.

He said the longer growth stays at zero, the more likely the world's largest economy would start to contract.

Greenspan also said a boom in oil prices could 'go on forever'.

Soaring crude prices have kept U.S. inflation high, even as growth slows.

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