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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: Jo Ellen T who wrote (59343)	1/8/2000 5:18:00 PM
From: puborectalis	Respond to of 108040

THE BEST OF TIMES....Boston, Jan. 8 (Bloomberg) -- The U.S. economy continues to grow without inflationary increases in wages or prices because more Americans have joined the workforce or extended their working hours, said U.S. Treasury Secretary Lawrence Summers in an interview. ''The American workforce is more expandable'' with increases in worker hours, participation in the workforce by married women, delayed retirement, and wider use of available labor, particularly in areas once known for high levels of unemployment, such as inner cities, Summers said. ''The potential growth rate for the next decade does appear to be greater than it was for the last decade,'' he said. Summers, speaking to reporters at the American Economic Association meeting in Boston, said the economy is enjoying the benefits of budgetary surpluses, expanded productivity, and more competition between companies. ''The new economy is built on old virtues,'' he said ''Still, what's marked the current nine-year expansion is fiscal policy that's focused on building budget surpluses rather than using government spending to boost demand,'' he said.