JOHN KING, CNN SR. WHITE HOUSE CORRESPONDENT: We want to shift gears now from the military deployment to go now live on Capitol Hill to see Tim O'Brien, who has been keeping track of Federal Reserve chairman Alan Greenspan, who met today with key members of the Senate Finance Committee -- Tim.</s>TIM O'BRIEN, CNN CORRESPONDENT: John, the Finance Committee is going to listen to Greenspan's advice and follow it. The economy did take a hit. Consumer confidence took a hit following the airstrikes September 11, but how long it will it be? Greenspan has been advising let's wait and see before we take any immediate action. And the chairman of the committee, Senator Max Baucus, came out and said, we may not need an economic stimulus package at all. Charles Grassley, the ranking Republican said, if we do anything, it'll be substantial, perhaps as much as $100 billion. But he also said that no decision has been made. You can count on business taking a back seat to consumers. Don't look for any cut in the capitol gains tax. Don't look for any reduction in the alternative minimum tax for business. But there could be a cut in payroll taxes. There could be an extension of unemployment benefits, perhaps an increase in the minimum wage, or any combination of the above, or perhaps none at all. We will have to wait and see -- John.</s>KING: Any sense of how long we have to wait and see as Congress mulls through all of this?</s>O'BRIEN: We do some have important indicators coming out on Friday, another important survey on consumer confidence. The Labor Department will release its revision on the second quarter gross domestic product on Friday. The Feds are going to meet on Tuesday. I would predict maybe sometime after that.</s>KING: All right, Tim O'Brien on Capitol Hill, keeping track of economic developments. TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
America's New War: Consumer Confidence Takes Big Hit Following Airstrikes