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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 681.44+1.6%Nov 10 4:00 PM EST
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To: American Spirit who wrote (46555)4/15/2000 9:57:00 PM
From: John Madarasz  Read Replies (2) of 99985
 
Saturday April 15 3:31 PM ET Clinton Calms Wall Street Fears

SEQUOIA NATIONAL FOREST, Calif. (AP) - President Clinton reassured Americans about the economy after Wall Street's sharp plunge, saying Saturday that ``I still think we're going to have a very good year' with modest inflation and strong growth.

The president said the investment climate and markets ``will take care of themselves. I think that they'll go up and they'll go down but I think long-term trends are quite positive.'

He spoke with reporters briefly after setting aside 388,000 acres of land to protect giant sequoia trees.

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A day earlier, stocks plummeted in heavy trading as inflation jitters helped push the Dow industrials down a record 616 points. The Nasdaq composite index also took a record fall of 355 points.

``Everybody that invests their money will tend to look at what it is likely to look like over the year,' the president said. ``All I can do is try to keep the economy strong and that's what I'll do.'

He said the projected inflation rate for the year ``is still quite modest and the projected growth rate for the year is still strong.

``If we stay with our economic policy and the American people's productivity continues to increase, as it is going to, I still think we're going to have a very good year.'

dailynews.yahoo.com
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