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Fed Chief Rejects Short-Term Boost for Economy

Federal Reserve Chairman Alan Greenspan tells lawmakers he doesn't believe the economy needs short-term stimulus. Congress, he says, should focus on actions that promote long-term growth. And he admonishes Congress to get deficits under control. NPR's Jim Zarroli reports.

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Jim Zarroli is an NPR correspondent based in New York. He covers economics and business news.