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Politics : Formerly About Applied Materials

AMAT 319.11

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Jan 15 3:59 PM EST

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To: StanX Long who wrote (61085)	2/28/2002 1:45:07 AM
From: StanX Long	Read Replies (1) of 70976

Greenspan Says Rebound Has Begun, but Growth Rate Will Trail Those of Previous Recoveries, Fed Chairman Warns washingtonpost.com By John M. Berry Washington Post Staff Writer Thursday, February 28, 2002; Page E01 Federal Reserve Chairman Alan Greenspan said yesterday that he believes an economic recovery "is just getting underway," but he cautioned that it is likely to be more moderate than the rebounds that have followed most other U.S. recessions. "Despite the disruptions engendered by the terrorist attacks of September 11, the typical dynamics of the business cycle have re-emerged and are prompting a firming in economic activity," Greenspan told the House Financial Services Committee. An example of such a firming came yesterday from the Commerce Department, which reported that new orders for durable goods rose a solid 2.6 percent last month, the third consecutive monthly increase. The level of such orders began to fall in the summer of 2000 and continued to do so until last September, sending manufacturers into a deep slump.

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