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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Jim Willie CB who wrote (36322)	4/26/2001 2:27:48 PM
From: stockman_scott	Read Replies (1) of 65232

Jim...Parry heard you talking and has some comments... __________________________________________________ Thursday April 26, 2:19 pm Eastern Time Fed's Parry: Turnaround May Be Delayed <<SANTA BARBARA, Calif. (Reuters) - Federal Reserve Bank of San Francisco President Robert Parry said on Thursday he expected the sluggish U.S. economy would grow at a faster pace by year's end, but that the turnaround would take longer than thought. Fed officials have recently maintained that the economy's weakness would mostly be contained to the first half of the year, with stronger growth in the second half. ``For the nation, I am expecting a faster growth rate by the end of the year. The turnaround probably has been delayed somewhat,'' Parry told reporters following a speech in Santa Barbara. He said he expected the initial stages of recovery to be moderate, with the Fed's aggressive interest rate cutting campaign helping to support consumer and business spending and the housing market. He said that spare capacity building during the economy's present weakness would mitigate the threat of inflation down the road.>>

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