Greenspan Says Rates May Rise to Check Inflation

By Jack Speer

Published July 20, 2004 at 12:00 AM EDT

Fed chairman says a spike in inflation could bring a quick rise in lending rates.

Federal Reserve Chairman Alan Greenspan says the central bank is prepared to raise interest rates more quickly if inflation suddenly worsens.

Greenspan, testifying on Capitol Hill, noted the nation's improving economic conditions but said the Reserve would remain vigilant to stabilize prices. NPR's Jack Speer reports.

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