Greenspan: soaring energy price will not affect economy

Fed Chairman Greenspan said that the electric power crisis plaguing California and the rising energy cost would not harm the economy for a long term, for he believed that the energy crisis was just temporary. 

The price of the electric power, Greenspan said, has soared more than two thirds and the charges on electric power would fluctuate unless the electric power provision is increased and the citizens would save expenses consciously, otherwise the economy of California would be hurt.

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