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Non-Tech : Le coin des francophones -- Ignore unavailable to you. Want to Upgrade?

To: pallmer who wrote (19242)	6/6/2000 1:49:00 PM
From: pallmer	Respond to of 77509

Pour les interress‚s : Pallmer =DJ SF Fed Pres Says Data On Economic Slowing Inconclusive By Rick Jurgens SAN FRANCISCO (Dow Jones)--Recent data that indicate slowing in the economy are encouraging but not conclusive, according to Robert Parry, president of the Federal Reserve Bank of San Francisco. "I think you can make a case that the economy has slowed somewhat," Parry said in an answer to a question at a conference on the real estate market in the San Francisco Bay Area. A similar argument could be made that the second-quarter growth rate will be lower than the first quarter, he said. But it is too soon to say what impact the recent reports will have on the policy consensus that will emerge from the Federal Open Market Committee when it meets in three weeks, Parry said. Parry is a voting member of the FOMC, which sets benchmark short-term interest rates. "Trends take time to develop," he warned a questioner who asked for his reaction to reports on employment, inflation and productivity that some analysts have seen reducing the pressure on the Fed to raise interest rates. "It's too early for anybody to declare victory at this point" in efforts to control inflation, he added. At the FOMC's last meeting, the members saw a "pretty clear picture" of an accelerating economy, Parry said in a news conference after his speech. While quarterly growth rates are volatile, it "would be comforting" if data show that growth has slowed to a more sustainable level than the 5.4% annual rate registered in the first quarter, he said. He and other members of the Fed will continue to analyze data, consider reports from the different Fed regions and digest additional price data, Parry said. -By Rick Jurgens, Dow Jones Newswires; 650-496-1367; richard.jurgens@dowjones.com (END) DOW JONES NEWS 06-06-00 01:46 PM- - 01 46 PM EDT 06-06-00 Jun-06-2000 17:46 GMT Source DJ Dow Jones Categories: G/FED SUB/DJN N/DJN SUB/DJWI N/DJWI SUB/DJS N/DJS SUB/CBK N/CBK M/NND GEO/NME R/NME GEO/US R/US