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Strategies & Market Trends : The New Economy and its Winners

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To: Harvey Allen who wrote (7156)5/24/2001 8:48:56 PM
From: Harvey Allen  Read Replies (1) of 57684
 
Greenspan Says Fed Interest-Rate Reductions May Not Be Over

New York, May 24 (Bloomberg) -- The U.S. still faces a period of slow economic growth and the Federal Reserve may decide to push interest rates lower, Fed Chairman Alan Greenspan said.

Offering his first assessment of the economy's prospects since February, Greenspan said that while the U.S. is experiencing only a ``pause'' in the record economic expansion, weakness will persist for several more quarters.

``The period of sub-par economic growth is not yet over, and we are not free of the risk that economic weakness will be greater than currently anticipated, requiring further policy response,'' Greenspan said in the text of remarks to the Economic Club of New York.

quote.bloomberg.com
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