{"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: US FEDERAL RESERVE CHAIRMAN ALAN GREENSPAN ADDRESSES PANEL' data-url='/boclips/videos/5c54c0fbd8eafeecae14eda7' data-video-url='/boclips/videos/5c54c0fbd8eafeecae14eda7' 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: US FEDERAL RESERVE CHAIRMAN ALAN GREENSPAN ADDRESSES PANEL\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/NatU-S Federal Reserve Chairman Alan Greenspan sent the stock market spinning again  today (Wednesday) as he told Congress that caution seems in order given the recent  powerful advance in stock prices.   Stocks have fallen...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eEnglish/Nat\u003cbr/\u003eU-S Federal Reserve Chairman Alan Greenspan sent the stock market spinning again  today (Wednesday) as he told Congress that caution seems in order given the recent  powerful advance in stock prices.   \u003cbr/\u003eStocks have fallen quickly, even prior to Greenspan beginning to speak before a Senate  panel.  \u003cbr/\u003eThe comments appear to pick up where Greenspan left off on December fifth with his  now-famous line about \"irrational exuberance.\"\u003cbr/\u003eThe opening bell of the New York Stock Exchange on Wednesday.\u003cbr/\u003eStocks started falling quickly, in anticipation of U-S Federal Reserve Chairman Alan  Greenspan s peach before a Senate panel. \u003cbr/\u003eHe picked up his now-famous December fifth line about \"irrational exuberance.\"\u003cbr/\u003e\"History demonstrates that participants in financial markets are susceptible to waves of  optimism, which in turn foster a general process of asset price inflation, that can feed  through into markets to goods and services.  Excessive optimism sows the seeds of its  own reversal in the form of imbalances that tend to grow over time.\"\u003cbr/\u003eSUPER CAPTION:  Alan Greenspan, U-S Federal Reserve Chairman\u003cbr/\u003eThe market reacted only moderately back then -- now it's time for another warning, says  an analyst.\u003cbr/\u003e''It wouldn't be surprising to see any negative response to threats that the Federal  Reserve Chairman doesn't regard the market as a  market, he's twice now.  This is his  second time.  First time he warned there was a brief reaction and then the market has  gone up, but now it's ten percent higher than when he first was concerned about it.''\u003cbr/\u003eSUPER CAPTION: Robert Farrell, Senior Investment Analyst, Merrill Lynch\u003cbr/\u003eHistory should teach caution, Greenspan told the Senate panel.\u003cbr/\u003e\"But regrettably, history is strewn with visions of such ``new eras' that, in the end, have  proven to be a mirage. In short, history counsels caution. Such caution may be  especially warranted with regard to the sharp rise in equity prices during the past two  years.\"\u003cbr/\u003eSUPER CAPTION:  Alan Greenspan, U-S Federal Reserve Chairman\u003cbr/\u003eGreenspan warned that factors keeping inflation low -- such as job insecurity, intense  global competition, and a strong dollar -- may be temporary.\u003cbr/\u003e\"We cannot rule out a situation in which a pre-emptive policy tightening may become  appropriate before any sign of actual higher inflation becomes evident.\"\u003cbr/\u003eSUPER CAPTION:  Alan Greenspan, U-S Federal Reserve Chairman\u003cbr/\u003eBut despite his grim warnings, the nation's chief banker closed his remarks with an  upbeat assessment of the U-S economy.  \u003cbr/\u003e\"Although the central bank's occupational responsibility is to stay on the outlook for  trouble, even I must admit that our economic prospects in general are quite favourable.\" \u003cbr/\u003eSUPER CAPTION:  Alan Greenspan, U-S Federal Reserve Chairman\u003cbr/\u003eToday's (Wednesday's) testimony accompanied the Fed's twice-a-year report to  Congress on its handling of monetary policy and economic expectations. \u003cbr/\u003eIt is always closely scrutinised by financial markets around the world for the signals it  sends about future central bank action.\u003cbr/\u003eWashington, DC, \u0026amp; New York, USA, February 26th 1997\u003cbr/\u003eNew York:\u003cbr/\u003e1. Various of NYSE opening bell\u003cbr/\u003eWashington:\u003cbr/\u003e2. Greenspan walking into meeting\u003cbr/\u003e3. Greenspan inside meeting\u003cbr/\u003e4. SOUNDBITE: Greenspan\u003cbr/\u003e5. Cutaway\u003cbr/\u003e6. SOUNDBITE: Robert Farrell\u003cbr/\u003e7. Greenspan in meeting\u003cbr/\u003e8. SOUNDBITE: Greenspan\u003cbr/\u003e9. Cutaways of Greenspan\u003cbr/\u003e10. SOUNDBITE: Greenspan\u003cbr/\u003e11. Wide shot inside the meeting\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eCurator Rating\u003c/dt\u003e\n\u003cdd\u003e\u003cspan class=\"star-rating\" aria-label=\"3.5 out of 5 stars\" role=\"img\"\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci 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class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eDate\u003c/dt\u003e\n\u003cdd\u003e1997\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003ci aria-hidden='true' class='fai fa-solid fa-language'\u003e\u003c/i\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eAudiences\u003c/dt\u003e\u003cdd\u003e\u003cspan\u003e\u003ca href=\"/search?audience_ids%5B%5D=371079\u0026amp;keywords=biology+human+systems\u0026amp;page=16\u0026amp;search_tab_id=1\"\u003eFor Teacher Use\u003c/a\u003e\u003c/span\u003e\u003c/dd\u003e\u003cdd class=\"text-muted\"\u003e\u003ci class=\"fa-solid fa-lock mr5\"\u003e\u003c/i\u003e2 more...\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='concepts-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='concepts-heading'\u003eConcepts\u003c/h2\u003e\n\u003cdiv class='clearfix'\u003e\n\u003cdiv class='details-list concepts' data-identifier='Boclips::VideoDecorator' data-type='concepts'\u003emonetary policy, years, inflation, time, north america, prices, economy, markets, business\u003c/div\u003e\n\u003cdiv class='concepts-toggle-buttons' data-identifier='Boclips::VideoDecorator'\u003e\n\u003cbutton aria-expanded='false' class='more btn-link' type='button'\u003e\n\u003cspan\u003eShow More\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-down ml5'\u003e\u003c/i\u003e\n\u003c/button\u003e\n\u003cbutton aria-expanded='true' class='less btn-link' style='display: none;' type='button'\u003e\n\u003cspan\u003eShow Less\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-up ml5'\u003e\u003c/i\u003e\n\u003c/button\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='additional-tags-heading' 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