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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Wally Mastroly who wrote (9473)	10/26/1999 3:24:00 PM
From: Wally Mastroly	Read Replies (1) \| Respond to of 15132

* Fed Watch * - This is enough to make your head hurt! The 'other' Fed view: biz.yahoo.com Fed's Stern-productivity gains more likely to last {will the real Fed view please stand up....} MINNEAPOLIS, Oct 26 (Reuters) - Minneapolis Federal Reserve President Gary Stern said Tuesday he is growing ever more confident that the U.S. economy can sustain recent improvements in labor output. ''I'm getting increasingly optimistic that sustained productivity gains are going to turn out to be long-term in nature,'' Stern told reporters after addressing a Fed Focus conference hosted by the regional bank. Stern also said that the Fed is close to achieving its goals of maximum employment with stable prices and moderate long-term interest rates. ''We are pretty close in all of these,'' said Stern, who currently is a voting member of the Fed's policy-setting group, the Federal Open Market Committee. ''I'm not complacent or sanguine. We get paid to worry here at the Fed. But we are in the ninth consecutive year of an expansion in which most sectors, with the exception of agriculture, and most regions are doing well,'' he said.