Greenspan Sticks to Script

Updated from 2:16 p.m. EST

For those who have kept predicting that the Federal Reserve would signal a pause in its interest rate hikes at the next meeting, in the next speech or at the next congressional appearance, they'll have to extend their prediction once more after Chairman Alan Greenspan gave no such signal.

If anything, at the margin, Greenspan's tone in congressional testimony on Wednesday possibly signaled more hawkishness -- a little greater disposition to raise rates -- than some market players expected. While many believe the Fed will pause soon, perhaps after another hike or two, Greenspan said that the central bank's fed funds rate, even after six rate hikes, "remains fairly low." ...