{"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='Federal Reserve chief\u0026#39;s latest economic assessment' data-url='/boclips/videos/5c54bf48d8eafeecae141f29' data-video-url='/boclips/videos/5c54bf48d8eafeecae141f29' 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\nFederal Reserve chief\u0026#39;s latest economic assessment\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. US Chairman of the Federal Reserve Bank, Alan Greenspan talking to Senator Richard Shelby2. Greenspan takes a seat3. SOUNDBITE: (English) Alan Greenspan, Chairman of the US Federal Reserve Bank:\"Economic developments in the United...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. US Chairman of the Federal Reserve Bank, Alan Greenspan talking to Senator Richard Shelby\u003cbr/\u003e2. Greenspan takes a seat\u003cbr/\u003e3. SOUNDBITE: (English) Alan Greenspan, Chairman of the US Federal Reserve Bank:\u003cbr/\u003e\"Economic developments in the United States have generally been quite favourable in 2004, lending increasing support to the view that the expansion is self-sustaining.\"\u003cbr/\u003e4. Wide shot of hearing\u003cbr/\u003e5. SOUNDBITE: (English) Alan Greenspan, Chairman of the US Federal Reserve Bank:\u003cbr/\u003e\" In addition the economy is not yet operating at its productive capacity, which should help to contain cost pressures.  But we cannot be certain that this benign environment will persist and that there are not more deep-seated forces emerging as a consequence of prolonged monetary accommodation.  Accordingly, in assessing the appropriateness of the stance of policy, the Federal Reserve will pay close attention to incoming data, especially on costs and prices.\"\u003cbr/\u003e6. Senators listening to testimony\u003cbr/\u003e7. SOUNDBITE: (English) Alan Greenspan, Chairman of the US Federal Reserve Bank:\u003cbr/\u003e\"If economic developments are such that monetary policy neutrality can be restored at a measured pace, as the FOMC expects, a relatively smooth adjustment of businesses and households to a more typical level of interest rates seems likely.  Even if economic developments dictate that the stance of policy must be adjusted in a less gradual manner to ensure price stability, our economy appears to have prepared itself for a more dynamic adjustment of interest rates.\" \u003cbr/\u003e8. Wide shot of hearing\u003cbr/\u003eFederal Reserve Chairman Alan Greenspan said on Tuesday that the central bank was prepared to raise interest rates more quickly if inflation suddenly worsens.\u003cbr/\u003eDelivering his midyear economic outlook to Congress, Greenspan said that economic conditions \"have generally been quite favourable in 2004\" with stronger growth finally producing some significant gains in employment.\u003cbr/\u003eHe noted that inflation has risen as well, but he repeated the belief that much of the increase in prices this year could be blamed on transitory factors such as a jump in oil prices.\u003cbr/\u003eAs long as price pressures ease in coming months and don't threaten to become embedded in wages, Greenspan said the Federal Reserve felt that it could continue to raise interest rates \"at a pace that is likely to be measured.\"\u003cbr/\u003eHowever he cautioned that if inflation pressures do worsen, the Federal Reserve is prepared to act decisively to keep 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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'\u003eprices, monetary policy, economy, inflation, business, interest rates\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' class='rp-info-section'\u003e\n\u003ch2 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