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Technology Stocks : CMGI What is the latest news on this stock?
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To: badon518 who wrote (7833)5/1/1999 9:30:00 PM
From: bundashus  Read Replies (1) of 19700
 
Badon 518

here is news release about interest.

Saturday May 1, 4:32 pm Eastern Time

INTERVIEW-Strong U.S. economy to continue-McTeer

SAN ANTONIO, Texas, May 1 (Reuters) - Federal Reserve Bank of Dallas president
Robert McTeer said on Saturday he believes the U.S. economy will continue to be strong
and inflation-free in 1999, making it unlikely that interest rate hikes would be necessary.

''We've had three years in a row of around 4 percent growth with declining inflation
and I don't see any real reason that won't be the case in 1999,'' he told Reuters in an
interview at the Federal Reserve branch in San Antonio.

The U.S. Commerce Department reported on Friday that the U.S. economy grew at a surprisingly brisk rate of 4.5
percent in the first quarter of this year, while inflation is running about 1 percent annually.

Some observers believe the Federal Reserve could raise interest rates to cool off the economy before inflation sets in, but
McTeer disagreed.

''I'm very encouraged that we're continuing to have this Goldilocks economy,'' he said. ''I would never want to raise
(interest) rates because the economy is strong. You raise rates only when it is necessary to curb inflation -- so far inflation
is looking very good.''

McTeer said he believes strong economic growth is actually putting a damper on inflation.

''Some people would say that inflation has been tamed despite strong growth, I would say it's been tamed because of
strong growth. (There are) a lot of goods out there being chased by a little bit of money,'' he said.
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