16 October 2007

US economy still hurting, recession odds less than half: Greenspan

WASHINGTON (AFP) — The US economy is still reeling from housing and credit woes but faces a "less than 50-50" chance of slipping into recession, former US Federal Reserve chairman Alan Greenspan said Monday.

Greenspan, in an interview with CNBC television, said the world's biggest economy is slowing as a result of of tighter credit, the outcome of the crisis in subprime housing loans.

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