Summary of Testimony The monetary policy report begins discussing the first half of 1996. The review stated that the first half had been went better than it was expected to go. In addition, the review stated that GDP went up by 2 ¼ and that industrial production rose by 5 1/2., and that manufacturers were running above postwar averages. Also, a topic that was discussed in the beginning and in most of the report was inflation. In report affirmed that …showed first 75 words of 752 total…

…showed last 75 words of 752 total…for Americans to make better and more efficient products. Finally, Greenspan discusses that the economy is growing and has been for the past six years. The economy has been growing because we readily and quickly fix imbalances and because inflation has been low. Greenspan states in his conclusion that the United States is a model for the rest of the world, and that a market economy is the reason that we are doing so well.