{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='USA: FEDERAL RESERVE CHAIRMAN GREENSPAN SPEECH' data-url='/boclips/videos/5c54c0dbd8eafeecae14de57' data-video-url='/boclips/videos/5c54c0dbd8eafeecae14de57' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nUSA: FEDERAL RESERVE CHAIRMAN GREENSPAN SPEECH\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eEnglish/Nat U-S Federal Reserve Chairman Alan Greenspan says policy-makers must keep an eye on surging energy prices. In a speech at the 18th Annual Monetary Conference in Washington on Thursday, Greenspan said high energy prices have...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eEnglish/Nat \u003cbr/\u003eU-S Federal Reserve Chairman Alan Greenspan says policy-makers must keep an eye on surging energy prices. \u003cbr/\u003eIn a speech at the 18th Annual Monetary Conference in Washington on Thursday, Greenspan said high energy prices have the potential to spoil the economic good times in the U-S.\u003cbr/\u003eOil prices have recently risen to 10-year highs, but so far haven't been seen contributing to a general increase in inflation.\u003cbr/\u003eAnalysts expect the Federal Reserve to keep interest rates unchanged in the short term. \u003cbr/\u003eU-S Federal Reserve Chairman Alan Greenspan told the 18th Annual Monetary Conference in Washington that the influence of energy prices on the economy should be taken into consideration.\u003cbr/\u003eHis remarks on Thursday came a day after the Dow Jones Industrial Average closed below ten-thousand points for the first time since March.\u003cbr/\u003eGreenspan said that while the recent surge in oil prices hadn't produced higher overall inflation, risks remained, especially given the political difficulties in the Middle East.\u003cbr/\u003eSOUNDBITE: (English) \u003cbr/\u003e\"Even though the intensity of oil consumption is markedly below where it was 30 years ago, it still has the potential to alter the forces governing economic growth in the United States.\"\u003cbr/\u003eSUPER CAPTION: Alan Greenspan, US Federal Reserve Chairman\u003cbr/\u003eGreenspan said that in the short term, oil prices were heavily influenced by inventory levels. \u003cbr/\u003eSOUNDBITE: (English) \u003cbr/\u003e\"Despite some slowing that likely has been related in part to the bite from the so-called 'oil tax' on household items, the growth of consumer spending has remained firm. But policy-makers will need to be on the alert for oil-driven, indeed energy-driven, risks to our expansion.\"\u003cbr/\u003eSUPER CAPTION: Alan Greenspan, US Federal Reserve Chairman\u003cbr/\u003eInventory levels have dropped significantly since decisions by OPEC in 1998 and 1999 to cut production by more than three (m) million barrels a day.\u003cbr/\u003eSince then, OPEC has boosted production to what are now record levels.\u003cbr/\u003eBut Greenspan said hoarding by worried distributors and consumers may be limiting the impact of the increased production.\u003cbr/\u003eSOUNDBITE: (English) \u003cbr/\u003e\"In the short run, the price of oil, as that of all commodities, inevitably is influenced importantly by inventory levels, especially when stocks become critically short.\"\u003cbr/\u003eSUPER CAPTION: Alan Greenspan, US Federal Reserve Chairman\u003cbr/\u003eThe Federal Reserve has raised interest rates six times since June 1999 to slow the economy and stave off inflation. \u003cbr/\u003eBut Greenspan didn't directly discuss the future course of interest rate policy on Thursday.\u003cbr/\u003eThe October 3, the Federal Reserve passed up the chance to raise rates for a seventh time, but cautioned that the increase in energy prices posed what it called \"a risk of raising inflation expectations.\"\u003cbr/\u003eWashington DC, USA - October 19, 2000 \u003cbr/\u003e1. Federal Reserve Chairman Alan Greenspan walking in\u003cbr/\u003e2. Audience listening\u003cbr/\u003e3. Wide shot Greenspan talking\u003cbr/\u003e4. SOUNDBITE: (English) Alan Greenspan, US Federal Reserve Chairman \u003cbr/\u003e5. Cutaway audience\u003cbr/\u003e6. SOUNDBITE: (English) Alan Greenspan, US Federal Reserve Chairman \u003cbr/\u003e7. Cutaway cameras\u003cbr/\u003e8. SOUNDBITE: (English) Alan Greenspan, US Federal Reserve Chairman \u003cbr/\u003e9. Cutaway media\u003cbr/\u003e10. 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