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Fed Chief Rejects Short-Term Boost for Economy

Federal Reserve Chairman Alan Greenspan tells lawmakers he doesn't believe the economy needs short-term stimulus. Congress, he says, should focus on actions that promote long-term growth. And he admonishes Congress to get deficits under control. NPR's Jim Zarroli reports.

Copyright 2003 NPR

Jim Zarroli is an NPR correspondent based in New York. He covers economics and business news.