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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.04

+0.4%

Nov 11 4:00 PM EST

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To: Richnorth who wrote (5499)	1/9/1998 3:11:00 PM
From: Dwight Taylor	Read Replies (1) of 116753

Hi Rich--you raise some good possibilities. This is in the news today about Japan's crisis. Funny that the White House finds it "extremely important" and "critically important" . Heck, not too long ago Clinton called it a little bump in the road! In addition, the talking heads on the news shows suggest the Asian crisis will have a marginal effect on the US. Huh? Then what is "extremely important?". Besides, I thought the IMF was handling the crisis? Who is Janet Yellen? P.S., Did you hear that there is an impeachment hearing, or something?? Heard it briefly on the news. Anyone? Japan must seek demand-led growth-W.House's Yellen WASHINGTON, Jan 9 (Reuters) - White House economic advisor Janet Yellen repeated on Friday that Tokyo must take steps to increase economic growth by fostering domestic demand. Yellen told reporters she had reiterated that view in a meeting Thursday with Economic Planning Minister Koji Omi of Japan. ''We emphasized our view that it's extremely important for Japan to grow so that it could serve as a source of expansion and confidence for the entire Asian region, and ... we reiterated the importance that Japan take appropriate maeasures to lead to domestic demand-led growth,'' she said. ''We expressed our concern with the sluggish growth that we have seen in Japan and emphasized that we agreed with them that it is critically important that appropriate steps be taken for Jpanan to ensure the stability of its financial system,'' she added. Yellen declined to comment in specific on recent fiscal measures taken by Japan in a bid to keep its economy out of recession. She said that fiscal steps taken by Japan early last year had had an adverse impact on the country's economic growth and reiterated U.S. desires to see ''an overall package that would be consistent with demand-led growth.''

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