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Strategies & Market Trends : The Amateur Traders Corner
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To: Shadowed who wrote (9844)5/24/2001 10:03:19 PM
From: Shadowed   of 19633
 
More detail from Associated Press:

WHILE DELIVERING A sober assessment of the dangers still facing the economy, Greenspan signaled that an absence of inflationary pressures left the central bank with plenty of room to cut interest rates further if needed to guarantee that a sustained rebound will occur.
“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 a dinner speech to Economic Club of New York.
Greenspan did not use the word “recession,” but his remarks signaled that a possible recession remained a threat to the economy.
Private economists said they viewed Greenspan’s remarks as a clear indication that the central bank was prepared to cut rates further given the lingering weakness in the economy.
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