Greenspan says that oil prices will cause a temporary hurt on the US economy, but stressed this was temporary. He still expects economic growth. He also said the oil crisis was doomed to happen given rising oil demand around the world and dwindling reserves.
BTW: I'd be able to give more info from the article, but Business Week has put some annoying copy & paste protection into their page. Thanks Business Week, I'll be sure never to subscribe to your closed-end service. Get with the Web 2.0 program!
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