Fed chief: Rates must rise at some point

WASHINGTON: Federal Reserve chairman Alan Greenspan said that US interest rates must rise at some point, but seemed to rule out an imminent increase by saying more vigorous growth have not yet sparked broad price pressures. 

In closely watched testimony to the congressional Joint Economic Committee, Greenspan repeated that a long period of disinflation had ended and said US central bank policymakers were on heightened alert about the need for higher rates. But he offered no clue on timing.