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Greenspan lectures journalist students
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FEDERAL Reserve Chairman Alan Greenspan taught a seminar at Columbia University journalism school on Wednesday that ranged from personal recollections to financial reporting and lofty economic theories that sometimes went over the students' heads.
The one thing he didn't talk about was the thing on everyone's mind -- the faltering US economy.
Greenspan, appearing as a guest lecturer at the graduate school's national affairs reporting class taught by former Vice- President Al Gore, made only general comments on the economy, students in the class reported.
He did not discuss the central bank's decision on Tuesday to cut key interest rates by half a percentage point. But he did say consumer confidence played an important economic role and said the Fed must be aggressive in fighting inflation.
Asked why he did not give news conferences or talk to journalists, Greenspan responded that he was accountable to the American people and to Congress.
In response to another question, Greenspan disagreed with a magazine article that called him the most powerful man in the United States. "I'm an unelected official" with no veto powers, he told the class.
He admonished the aspiring reporters to guard their reputations and integrity, students said. "Being ethical is being practical," he was quoted as saying.
(SD-Agencies)
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