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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Justa Werkenstiff who wrote (11750)2/6/2000 7:05:00 PM
From: Justa Werkenstiff  Read Replies (2) of 15132
 
February 23, 1999

US economy under strain but will remain 'solid' -
Greenspan

from E-data

Washington (Sapa-AFP) - Federal Reserve chairman Alan
Greenspan said that the US economy was under strain and
vulnerable to a pickup in inflation and turbulence overseas, but that
growth should nonetheless remain "solid" this year.

Greenspan also said that a booming stock market suggested that
share prices might be overvalued.

"After eight years of economic expansion, the economy appears
stretched in a number of dimensions, implying considerable upside
and downside risks to the economic outlook," Greenspan said in
testimony prepared for the Senate Banking Committee.

For this year however, prospects are generally positive, according to
the chairman.

"Our economy's performance should remain solid this year, though
likely with a slower pace of economic expansion, and a slightly
higher rate of overall inflation than least year, " he said.
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