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Technology Stocks : Dell Technologies Inc.
DELL 122.46-8.5%Nov 17 3:59 PM EST

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To: Mohan Marette who wrote (122649)5/6/1999 9:59:00 AM
From: Lee  Read Replies (3) of 176387
 
Mohan,.>Re:.AG's remarks

Just read the speech and found nothing negative. In fact, he sounded downright positive. He did give lip service to some of his antiquated friends who still believe in the Phillips curve but otherwise, he's pretty impressed with technology and productivity.

Here are some of the remarks.

At the 35th Annual Conference on Bank Structure and Competition of the Federal Reserve
Bank of Chicago
May 6, 1999

bog.frb.fed.us

Forecasts of inflation and of growth in real activity for the United States, including those of the Federal Open Market Committee, have been generally off for several years. Inflation has been chronically overpredicted and real GDP growth underpredicted. An increase in inflation doggedly forecast to follow the ever lower unemployment rate--now the lowest in three decades--has not occurred. In fact, even after accounting for the reduced bias in our price statistics resulting from methodological improvements, some measures of inflation have even continued to ease.

(This sounds like Chuzz!)<bg>
I say that accelerated labor productivity is arguably at the root of declining domestic valued-added price inflation because it can be misleading to identify a single variable as the exogenous force in an essentially interactive process of cause and effect.

(This sounds like DELL!)
Owing to advancing information capabilities and the resulting emergence of more accurate price signals and less costly price discovery, market participants have been able to detect and to respond to finely calibrated nuances in consumer demand.

This might be why we won't see any rate increases for awhile.
The outlook for the American economy is particularly relevant to the realization of a full recovery of East Asia.

endogeniety = not in my on-line Webster's, don't know what the French phrase means either.<g>

cheers,

Lee
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