Washington ? The U.S. economy is poised to return to healthy growth, but the startling stream of accounting scandals that has rocked Americans’ faith in corporate leaders could weaken the recovery, Federal Reserve Chairman Alan Greenspan told Congress on Tuesday.

Those accounting problems already have contributed to a slide in the stock market, he said. That threatens to cause consumers to spend less and businesses, whose profits took a hit during the slump, to become even more reluctant to make big commitments in capital investment, a necessary ingredient to the economy’s full recovery.

Federal Reserve Chairman Alan Greenspan prepares to answer questions after his testimony before the Senate Banking Committee on Capitol Hill. Greenspan said Tuesday that the economy was headed up, but problems remained. He said the effects of recent problems will

“Considerable uncertainties about the progress of the adjustment of capital spending and the rebound in profitability; about the potential for additional revelations of corporate malfeasance; and about possible risks from global political events and terrorism still confront us,” Greenspan said in testimony to the Senate Banking Committee.

Against that backdrop and given that inflation has remained low and isn’t a risk to the economy, Fed policy-makers have opted to hold short-term interest rates at 40-year lows at each of their four meetings this year.

Growing numbers of economists believe the Fed will keep rates unchanged through the rest of the year. Some said Greenspan’s Tuesday remarks reinforced that view.

“I think the Fed will stay on the sidelines,” predicted Mark Zandi, chief economist at Economy.com. “He duly recognized the threat posed by the sliding stock market.”

By keeping interest rates low, the Fed might motivate consumers to keep spending and businesses to step up investment, both of which would bolster economic growth.

Even as he acknowledged risks facing the economy, Greenspan struck a more upbeat and reassuring tone than he had earlier this year.

“The fundamentals are in place for a return to sustained healthy growth,” Greenspan said, delivering his semiannual report on the economy to Congress.