Greenspan Signals Further Rate Increases

By MARTIN CRUTSINGER
The Associated Press
Wednesday, July 20, 2005; 11:08 AM

WASHINGTON -- Federal Reserve Chairman Alan Greenspan said Wednesday the economy should enjoy sustained growth with low inflation in coming months, a strong condition that will require continuing incremental increases in interest rates.

Greenspan delivered an upbeat assessment of the economy's prospects in an appearance before Congress, saying the country weathered a brief slowdown in the spring when inflation appeared to be on the rise.