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Despite signs the U.S. economy is slowing, there is no evidence of fundamental deterioration that would require action to lower interest rates, said Federal Reserve Chairman Alan Greenspan.

"The signs of the economy at this stage are really quite ambiguous," Greenspan said at the close of the three-day International Monetary Conference here, noting that although inflation has eased, the unemployment rate remains steady."There are no indications of building up of inventories or cumulative layoffs in any of the data we see," he said.

The prospect of lower interest rates, sparked by weakening economic indicators and sluggish new job growth, helped push the stock market to record highs earlier this week.