US Federal Reserve chairman Alan Greenspan says the US economy is showing signs of emerging from recession but still faces 'significant risks' of weakness.
His speech, delivered at a business conference in San Francisco, was seen as leaving the door open for further cuts in US interest rates at the Fed's next meeting on January 29-30.
'There are sound reasons for concluding that the long-run picture remains bright, and even recent signals about the current course of the economy have turned from unremittingly negative through the late fall of last year to a far more mixed set of signals recently,' he said.
'But I would emphasise that we continue to face significant risks in the near term.'
