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Technology Stocks : Jimbo's Playhouse/CPQ
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To: Mao II who wrote (7236)7/19/2000 3:05:22 PM
From: Night Writer  Read Replies (1) of 12663
 
It's not looking good for tomorrow. Guess the bunker is back to basics. Bring your own sleeping bag, and freeze dried food. Do we still have water or has that been cut off?
NW

FED RESEARCH PAPER CONTESTS KEY CLAIMS ABOUT NEW ECONOMY

Reuters
July 19, 2000
NEW YORK -- A new Federal Reserve Bank of New York research paper debunks "new economy" claims that rising productivity and technological advances have permanently altered the relationship between U.S. growth and inflation.

The paper, written by two bank research economists, said falling import prices--aided by cheap oil, a strong dollar and Asia's recent financial crisis--played the key role in capping U.S. inflation over the past few years.

"We find that conventional economic forces, comparable to those that have shaped inflation behavior in the past, can account for the restraint that has characterized U.S. inflation over the last decade," the paper written by Robert Rich and Donald Rissmiller said.

Economists normally expect inflation to rise during long economic expansions.

But even though the U.S. economy has been growing for nearly a decade and gathering extraordinary momentum in the past few years, core inflation has been tame.

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