Summary
NEW YORK - Stocks stumbled Thursday as mixed economic news and further hints of higher interest rates from Federal Reserve Chairman Alan Greenspan kept buyers at bay.
The Fed chairman offered a modest endorsement of President Bush's idea of setting up private retirement accounts for younger workers in testimony before the House Financial Services Committee, but said that alone won't solve Social Security's long-term problems. Reiterating remarks made to a Senate panel Wednesday, Mr. Greenspan said the economy continues to expand at a respectable pace, and that inflation, while not an immediate threat, remains something policy-makers must guard against. There were few surprises in his comments, but analysts said they served as a reality check for investors.See the full content of this document
Extract
Stocks Sag On Hint of Rates' Increase
"Greenspan is doing a good job of prep...
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