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Gold/Mining/Energy : Gold Price Monitor
GDXJ 118.97-0.9%Dec 24 4:00 PM EST

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To: Abner Hosmer who wrote (8312)3/14/1998 7:53:00 AM
From: Gabriela Neri  Read Replies (1) of 116823
 
'Business cycles do not die of natural death and in the end the Fed is the instrument of change for the economy,''said Stephen Roach, chief economist for Morgan Stanley Dean Witter.

What's ahead, he said, is a classic late business cycle phenomena where the economy grows too fast for too long, the labor market gets too tight, and wages rise, squeezing profit margins. At this stage, inflation picks up speed and the Fed has to chase prices down.
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