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Technology Stocks : Intel Corporation (INTC)

INTC 40.34

-2.6%

3:59 PM EST

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To: Tony Viola who wrote (106001)	7/20/2000 11:44:49 AM
From: Road Walker	of 186894

Tony, I'm listening to Mr. Greenspans speech right now. He is much less hawkish than he was six months ago, in fact if you read between the lines you might take him to think that slowing growth is more of a problem right now than inflation (certainly NOT the official stance). One question that was interesting, can't tell you which Senator it was from. He said that IT sector growth was between 30% and 60% YOY, but it only represented 10% of the economy, and that the remaining 90% of the economy was essentially flat. How was the rise in interest rates affecting the 90%? Greenspan agreed all that was true, said that was usually the case in a growth period. You have to wonder, if higher interest rates were to put 90% of the enconomy into a recession (2 consecutive quarters of negative growth), wouldn't you conclude that the US economy was in a recession, despite growth in the IT sector? I don't think Greenspan will take my question <g>. John

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