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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	8/31/2001 10:07:26 AM
From: besttrader	of 37746

10:00am Greenspan: Little known about cap gains By Rex Nutting Huge gains in the stock and real estate markets have had a tremendous influence on consumer behavior in the past five years, but economic theory has few insights into the exact relationship between wealth and consumption, Federal Reserve Chairman Alan Greenspan said Friday. Greenspan's opening speech at the Federal Reserve Bank of Kansas City's annual conference shed no light on the current economic situation. While stock market gains fueled spending in the late 1990s and in 2000, capital gains from homes seem to be propping up spending now. Greenspan said the question for policymakers is, how much will those gains add to consumer spending? The Fed is working on a new accounting system to track capital gains.

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