Greenspan tells of healthy economy

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Making his last semi-annual presentation before Congress today, Federal Reserve chairman Alan Greenspan painted a generally healthy picture of the US economy. However, he issued warnings on housing prices and oil prices that he said could slow economic growth, and especially expressed concern that oil prices could keep rising for the next few years. Mr. Greenspan warned that the bottom could drop out of housing prices in some markets.To help counter these concerns, Mr. Greenspan said that it will be necessary to continue to remove monetary accommodation, which is perceived to mean continued interest rate rises.