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Politics : Idea Of The Day
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To: LABMAN who wrote (36243)1/9/2001 10:01:12 AM
From: IQBAL LATIF  Read Replies (1) of 50167
 
An opposite view..

Bruce Steinberg, chief economist at Merrill Lynch, weighed in on the economy. Steinberg lowered growth forecasts for first-quarter GDP by half a percentage point, but said he doesn't expect a recession. "We now expect GDP growth in a 1.5% to 2% range in Q1 and about 2% during the first half of 2001, before picking up to about 3.5% in the second half," the report said. Merrill also expects the Fed to lower interest rates on Jan. 30 by another 50 basis points and drop rates to 5% by June.
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