Prepared Testimony of U.S. Senator Lauch Faircloth (R-NC)

Hearing on the Federal Reserve Semi-Annual
Monetary Policy Report to Congress

July 23, 1997


Mr. Chairman, I want to thank Mr. Greenspan for being here.

I have said this before, I think the robust economy we have is due to his steady hand at the Federal Reserve Board.

Some members of Congress have not always been happy with his interest rate policies, but I think his policies have proven to be the reasonable course of action.

Further, I don't think it should be overlooked that for the last three years this Congress has tried to cut spending, and reduce regulatory interference in the private sector. I think these two factors are fueling a lot of this growth, particularly in the high tech sector of the economy.

We need to keep these policies in place -- and I think we will keep the economy growing.

Thank you Mr. Chairman.



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