Greenspan Offers New Rate Hike Clue
From Times Staff and Wire Reports
Federal Reserve Board Chairman Alan Greenspan warned bankers to review their lending practices and urged them to be cautious, giving another clue the Fed may be about to raise interest rates. “Some modest underwriting laxity has a tendency to emerge during good times,” Greenspan said in a speech to the Independent Bankers Assn. of America. The Fed’s Open Market Committee is scheduled to meet Tuesday and, most analysts believe, will try to prevent inflation by increasing the benchmark rate.
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