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Politics : Formerly About Applied Materials

AMAT 307.20

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Jan 12 3:59 PM EST

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To: StanX Long who wrote (60879)	2/22/2002 1:12:31 AM
From: StanX Long	Read Replies (1) of 70976

End of Recession Is Seen, but Strength of Recovery Is Unclear By RICHARD W. STEVENSON February 22, 2002 nytimes.com ASHINGTON, Feb. 21 — Economists and government officials said today that the recession had almost certainly come to an end but that it remained unclear how strong and sustained the recovery would be. White House officials said the economy was growing at a modest but accelerating rate and again credited the tax cut President Bush signed into law last year for minimizing the depth and duration of the downturn. But administration officials reiterated their call for an immediate package of new and accelerated tax cuts, saying the economy still faced problems, including economic weakness abroad, weak corporate profits and the possibility of a recovery, similar to the one after the last recession, in 1990-91, in which the unemployment rate remained high for months or years. "We've seen jobless recoveries before," said Commerce Secretary Donald L. Evans. "We saw one in the early 90's, as a matter of fact. So that's why the president and the administration continue to be very focused on the importance of a stimulus package."

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