Fed Chairman Plans To Modify Testimony To House Committee
Corrections & Amplifications</br></br>FEDERAL RESERVE BANK of Dallas president Robert McTeer was interviewed by "Nightly Business Report" on a program that aired Monday on PBS. An article on the Politics & Policy page yesterday incorrectly said the interview was with PBS-TV. (WSJ Feb. 28, 2001)</br></br>WASHINGTON -- In a break with tradition, Federal Reserve Chairman Alan Greenspan will modify his testimony on the economy to a House panel tomorrow from what he gave to its Senate counterpart two weeks earlier.</br></br>"Some time has passed since the last testimony so he's updating the text," a Fed spokesman said.</br></br>Stocks rallied in part on hopes that the changed testimony somehow increases the chances that rates will be cut before the Federal Open Market Committee, the central bank's decision-making body, meets March 20 -- and that Mr. Greenspan will signal that this week.