Alan Greenspan: Semi-annual monetary policy report to the US Congress Testimony of Mr Alan Greenspan, Chairman of the Board of Governors of the US Federal Reserve System, on the occasion of the Federal Reserve Board’s semiannual monetary policy report to the Congress, before the Committee on Financial Services, US House of Representatives, 18 July 2001.
d)  The fourth principle for a sound economic management is the need to monitor unit labour costs and national competitiveness indicators so as to prevent or correct abnormal deviations. We would expect some dispersion and differentials among euro area countries. As I have already mentioned, in such a vast area, there will always be some diversity, as in the United States.