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Strategies & Market Trends : MDA - Market Direction Analysis

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Jan 9 4:00 PM EST

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To: HairBall who started this subject	12/25/2000 7:28:09 AM
From: friverola	Read Replies (1) of 99985

Clinton Aide Estimates 3% Economic Growth in 2001 (Bloomberg) fxstreet.com President Bill Clinton's chief economic adviser said the U.S. economy will likely grow at about a 3 percent rate next year, compared to an estimated 5.1 percent in the current year. Gene Sperling, chairman of the National Economic Council, said something close to the 3 percent figure will appear in a White House report on the economy due out in January. Treasury Secretary Lawrence Summers said slower growth doesn't mean a recession is near. ``Of course, a deceleration was inevitable from the 5 or 6 percent growth rates that we were enjoying in the first half of this year,'' he said on ABC's ``This Week.'' ``This is a resilient economy'' that should be able to build off its strong fundamentals, Summers said. The comments by Sperling and Summers were in response to warnings from President-elect George W. Bush and his aides that the economy may be on the verge of a recession. Clinton administration officials have said the warnings are politically motivated to make the case for their $1.3 trillion tax-cut plan. They've also said the warnings can become a self-fulfilling prophecy... fxstreet.com

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