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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 14 4:00 PM EST

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To: Les H who wrote (56882)	7/20/2000 10:39:19 AM
From: UnBelievable	Read Replies (1) of 99985

Greenspan voices caution Fed Chief suggests it's too soon to conclude that economy is slowing July 20, 2000: 10:23 a.m. ET NEW YORK (CNNfn) - It is too soon to conclude that the U.S. economy has slowed to a sustainable enough pace to keep inflation from accelerating, particularly with unemployment holding at its lowest level in 30 years, Federal Reserve Chairman Alan Greenspan said Thursday. Delivering his twice-annual monetary policy report to Congress, Greenspan said softening U.S. consumer spending may help bring demand back into line with the economy's potential to produce. But he also warned that tight labor markets and rising energy prices still might stoke inflation. "It is much too soon to conclude that these concerns are behind us," Greenspan said in his prepared remarks to the Senate Banking Committee. "We cannot yet be sure that the slower expansion of domestic final demand, at a pace more in line with potential supply, will persist." His remarks suggested that the Fed may not be convinced that the U.S. economy, now into its 10th year of uninterrupted expansion, has slowed enough to ward off inflation risks - a signal that the Fed may continue its campaign of raising short-term interest rates to slow growth. The Fed last raised rates by a half-point on May 16 and left rates unchanged in June

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