Greenspan: Household Debt Acceptable; Fed Chairman Also Says He Is Not Worried About Soaring Home Prices

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WASHINGTON (AP) - The record level of debt being carried by American households and soaring home prices do not appear to represent serious threats to the U.S. economy, Federal Reserve Chairman Alan Greenspan said Tuesday.

Greenspan said that high levels of personal bankruptcies are a concern because they indicated "pockets of distress" among American households. But he said the vast majority of U.S. consumers "appear able to calibrate their borrowing and spending to minimize financial difficulties."

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Greenspan: Household Debt Acceptable; Fed Chairman Also Says He Is Not Worried About Soaring Home Prices

In a speech before America's Community Bankers, the organization that represents small...

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