WASHINGTON -- Federal Reserve Board Chairman Alan Greenspan said yesterday he sees no evidence of a "double-dip" recession and that the Fed's next move, possibly next year, should be a tightening aimed at securing further progress against inflation.

In his semiannual Humprhey-Hawkins testimony on monetary policy before the House Banking Committee, Mr. Greenspan rejected the arguments of some private economists that the economy could fall back into recession after a brief recovery because of stringent budgetary cutbacks by state and local governments, the continuing credit crunch, weak money supply growth, and other factors.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.