Brighter Outlook Leads Fed to Leave Interest Rates LTnchanged: Banking ...
Members of the Senate Banking Committee greet Federal Reserve nominees Alice M. Rivlln and Laurence H. Meyer.</br></br>With U.S. economic growth looking a good deal healthier than it did two months ago, Federal; Reserve policymakers decided yesterday to leave short-term interest rates unchanged until they get a better reading on the outlook for later this year.</br></br>The decision to make no change had been widely anticipated by investors and financial analysts, so the news had little impact on financial markets.</br></br>As soon as the policymaking session was over, Fed Chairman Alan Greenspan headed to Capitol Hill. Greenspan, nominated by President Clinton for a third four-year term as head of the nationÛªs central bank, appeared before the Senate Banldng Committee, where member after member praised his record since he assumed the chairmanship in August 1987.</br></br>central banker,Û said committee chairman Sen. Alfonse M. DÛªAmato (R-N.Y.). "Economic performance during Chairman GreenspanÛªs tenure has been remarkable.Û