Intel Strategy for Achieving Wealth and Off Topic Message Board

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Technology Stocks : Intel Strategy for Achieving Wealth and Off Topic

INTC 37.81

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Dec 12 9:30 AM EST

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To: margaret tasset who wrote (7)	3/30/1997 10:47:00 PM
From: margaret tasset	of 27012

To All: Here is an article that should be positive for the market. Treasury secretary says inflation likely to stay low WASHINGTON (Mar 30, 1997 2:25 p.m. EST) - Treasury Secretary Robert Rubin said Sunday he expects continued low inflation despite last week's preemptive move by the Federal Reserve boosting short-term interest rates. "All the evidence to me suggests inflation is likely to remain low, but I also think one has to remain very watchful," said Rubin, citing the unexpected soaring rates of the 1970s that had "very serious undermining effects on our economy." Rubin refused to comment directly on the Fed's decision last Tuesday to raise overnight interest rates by 0.25 percentage points to 5.50 percent and subsequent Congress criticism that the move would push up the cost of living. Instead, he said the economy was doing very well and 'the key now is to continue with a successful economic strategy.' Rubin cited the current 5.3 percent unemployment rate, 12 million new jobs and rising family incomes to demonstrate the economy was 'very healthy.' "We've had a remarkable four years," said Rubin, adding the outlook for the economy is good. 'The government "must now continue on a sound policy path to continue these conditions," said Rubin. Rubin noted that the Fed does not set intermediate and long-term interest rates, "which really drive the economy," adding that those rates are determined by the financial markets and "will reflect economic conditions including inflation and prospects for growth." Rubin also said he favors introducing "moderate, middle-income tax cuts," as proposed by President Bill Clinton in his 1998 budget plan, even as efforts are made to balance the federal budget. Copyright c 1997 Nando.net Do you have some feedback for the Nando Times staff?

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