"The economy is continuing to grow above trend and showing no signs of faltering and Greenspan has said in his Humphrey-Hawkins testimony that he's going to be pre-emptive."

Mr. Greenspan's Humphrey-Hawkins testimony will continue next Wednesday.

Analysts said the tone and content of his testimony were no different than his Humphrey-Hawkins testimony a fews weeks ago, but the markets are becoming believers.

Mr. Greenspan heads to the House Banking subcommittee on banking and international monetary affairs for the second leg of his semiannual Humphrey-Hawkins testimony.

Interest in the chairman's semi-annual Humphrey-Hawkins testimony has heightened in recent days because of recent statements by President Bush on interest rates and inflation.

Alan Greenspan, the chairman of the Federal Reserve, provides Humphrey-Hawkins testimony to the House Banking Committee.

"But as Mr. Greenspan noted in his Humphrey-Hawkins testimony last week, they will do it in a balanced, gradual fashion."

"After all, few would want to carry a significant position into the Humphrey-Hawkins testimony and subject themselves to tape bombs."

Most expect a rehash of Bernanke's Humphrey-Hawkins testimony in July where he laid out several alternatives to more bond buying:

The last two times he delivered the so-called Humphrey-Hawkins testimony, Mr. Greenspan surprised the markets with generally upbeat views on the recovery.