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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: pater tenebrarum who wrote (51614)12/27/2000 3:12:48 PM
From: Cynic 2005  Read Replies (3) of 436258
 
RECESSION NOT AROUND THE CORNER

Goldstein said with consumption continuing to grow, it is highly unlikely that the world's largest economy would trip into a recession, or even drop to an anemic and painful 1 percent level of growth, anytime soon.

``It's slower and it's going to be slower but we are not in and we are not close to being in a recession,'' he added.

In its regular statement issued after the rate-setting Federal Open Market Committee meeting on December 19, the U.S. Federal Reserve shifted its policy stance significantly -- scrapping its 18-month-old warning that inflation posed the greatest threat to the U.S. economy and saying that the larger risk was one of excessive weakness.

biz.yahoo.com
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