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Technology Stocks : Son of SAN - Storage Networking Technologies

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To: D. K. G. who wrote (4307)	1/13/2002 3:23:02 PM
From: Joe Wagner	Read Replies (1) of 4808

Greenspan Still a New Economy Believer Jan 13 11:07am ET By Glenn Somerville SAN FRANCISCO (Reuters) - Federal Reserve Chairman Alan Greenspan may be skeptical about the U.S. economy's prospects for a swift bounce out of the recession, but his faith in technology-driven economic gains for the longer term appears as solid as ever. If anything, the Fed chief indicated last week his belief in technology's potential has been strengthened as a result of the downturn, saying growth in output per worker remained positive as the recession set in and "held up well" even after the Sept. 11 attacks on America. "Until last year, the hypothesis of an accelerated productivity trend had not been tested in the contracting phase of a business cycle," Greenspan said Friday in a speech to the Bay Area Council, a policy group sponsored by business and local governments in the heart of high-tech country. "Recent developments have provided that test, and the early returns certainly look favorable to the hypothesis." For more of the article: siliconinvestor.com

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