>Mr. Chairman, I would like to thank you for holding this hearing today and I want to welcome Federal Reserve Board Chairman Greenspan to this hearing. I always look forward to the opportunity to hear from you, Chairman Greenspan, regarding monetary policy and other economic issues.
The Federal Reserve's quick and aggressive efforts to counteract the effects of our Nation's weakened economy during 2001 should be applauded. The resiliency of our economy through the September 11th attacks was remarkable and it seems that the economy today is slowly gaining strength, which we can attribute to prudent monetary and fiscal policy.
Consumer spending remained high in recent months, particularly in the Housing and Automotive Sectors. This strong consumption, along with other factors, helped bring about a more stable economy. Chairman Greenspan, I look forward to hearing from you what else can be done to continue strengthening our economy.
Thank you, again, Mr. Chairman for holding this hearing and Chairman Greenspan, I look forward to your report.