{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='WRAP Federal Reserve chairman comments on US economy and steel tariffs' data-url='/boclips/videos/5c54c432d8eafeecae166f13' data-video-url='/boclips/videos/5c54c432d8eafeecae166f13' 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\nWRAP Federal Reserve chairman comments on US economy and steel tariffs\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'\u003e1. Walk in view of Greenspan2. Pan view of hearing3. SOUNDBITE: (English) Alan Greenspan, U.S Federal Reserve Chairman:\"Despite the disruptions engendered by the terrorist attacks of September the 11th, the typical dynamics of the...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. Walk in view of Greenspan\u003cbr/\u003e2. Pan view of hearing\u003cbr/\u003e3. SOUNDBITE: (English) Alan Greenspan, U.S Federal Reserve Chairman:\u003cbr/\u003e\"Despite the disruptions engendered by the terrorist attacks of September the 11th, the typical dynamics of the business cycle have re-emerged and are prompting a firming in economic activity. The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed.\"\u003cbr/\u003e4. Wide view of hearing\u003cbr/\u003e5. SOUNDBITE: (English) Alan Greenspan, U.S Federal Reserve Chairman:\u003cbr/\u003e\"We have seen encouraging signs in recent days that underlying trends in final demand are strengthening, although the dimensions of the pick up remain uncertain.\"\u003cbr/\u003e6. Mid view of Greenspan\u003cbr/\u003e7. SOUNDBITE: (English) Alan Greenspan, U.S Federal Reserve Chairman:\u003cbr/\u003e \"Although there are ample reasons to be cautious about the economic outlook, the recuperative powers of the American economy, as I have tried to emphasize in my presentation, have been remarkable. When I presented our report on monetary policy to this Committee last summer, few if any of us could have anticipated events such as those to which our nation has subsequently been subjected. The economic consequences of those events and their aftermath are an integral part of the many challenges that we now collectively face. The U.S. economy has experienced a substantial shock, and, no doubt, we continue to face risks in the period ahead. But the response thus far of our citizens to these new economic challenges provides reason for encouragement.\"\u003cbr/\u003e8. Side view of Greenspan testifying, pan to Senators\u003cbr/\u003e9. Cutaway audience\u003cbr/\u003e10. Back view of hearing\u003cbr/\u003e11. US Senate hearing room \u003cbr/\u003e12. US Federal Reserve chairman, Alan Greenspan talking \u003cbr/\u003e13. SOUNDBITE: (English) Alan Greenspan, US Federal Reserve chairman:\u003cbr/\u003e\"The difficulty is that any president has in trying to come to grips with trade laws and conditions such as exist in our steel industry. I happen not to agree with the particular judgement, but I recognise that it is a very very tough judgement that the president had to make and I am glad that I was not in the position where I had to make that judgement.\"\u003cbr/\u003e14. Hearing \u003cbr/\u003e15. SOUNDBITE: (English), Alan Greenspan, US Federal Reserve chairman:\u003cbr/\u003e\"I am a very strong proponent of free trade because I believe free international trading system has been a major contributor to the economic wealth created in this country. I believe we benefit more than anybody from an opening trading system.\"\u003cbr/\u003e16. Greenspan at US Senate hearing\u003cbr/\u003eUnited States Federal Reserve Chairman Alan Greenspan Thursday offered his most optimistic assessment of the U-S economy in more than a year, telling Congress that the country is now recovering from its first recession in a decade.\u003cbr/\u003eHe also said he disagrees with US president George W. Bush's announcement on high tariffs for imported steel. \u003cbr/\u003eGreenspan's testimony to the Senate Banking Committee was more upbeat than his outlook just a week ago. \u003cbr/\u003eHe said recent evidence increasingly suggests that an economic expansion is already under way.\u003cbr/\u003eThat assessment was not part of his testimony to the House Financial Services Committee last week.\u003cbr/\u003eSince Greenspan's last appearance on Capitol Hill, a batch of encouraging economic news has been released providing strong evidence that the country is on the mend from the recession, which began in March 2001.\u003cbr/\u003eEven with his more upbeat assessment, Greenspan cautioned Americans not to anticipate a red-hot rebound. \u003cbr/\u003eHe added that an array of influences unique to this business cycle seems likely to moderate the recovery's speed.\u003cbr/\u003eGreenspan also came out against the Presiden'ts announcement on high tariffs for imported steel. \u003cbr/\u003eTuesday's announcement by Bush, which imposes taxes of between eight and 30 percent for three years on a wide range of imported steel products, has caused consternation amongst many of the US's trading partners. \u003cbr/\u003eUnder World Trade Organization rules, a country can increase tariffs temporarily to protect a domestic industry that is restructuring.\u003cbr/\u003eThe hikes, which will take effect on March 20, are widely seen as a bid to protect US steel industry jobs in states vital to president Bush's Republican Party in this year's congressional elections.\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 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