Federal Reserve Chairman Alan Greenspan said on Wednesday the Iraq war's full impact on the U.S. economy would not become clear until the conflict is over.

"We will not know what the full impact of this war will be until it's over," Greenspan said in answer to audience questions after a speech at the Ronald Reagan Presidential Library in Simi Valley, California, adding that the U.S. economy is "more prone to economic growth than stagnation."

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Now you think they would have modeled what would happen to US economy and world economy.