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Article: FED CHIEF DOWNPLAYS OIL PRICES.(News)
- Article from:
- The Cincinnati Post (Cincinnati, OH)
- Article date:
- October 16, 2004
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Byline: Martin Crutsinger Associated Press
WASHINGTON -- The world will be living with volatile oil prices for years to come, but this year's price spike should not be serious enough to push the country into a recession, Federal Reserve Chairman Alan Greenspan said Friday.
Greenspan gave a generally upbeat assessment of the economy's ability to withstand the spike in oil prices of recent months, saying that he did not believe the country will see a replay of the oil shocks of the 1970s and early 1980s that triggered a series of recessions. But he added some major qualifiers.
"We and the rest of the world doubtless will have to live with the ...