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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (33251)	11/2/2000 2:31:20 PM
From: Ken98	Read Replies (2) \| Respond to of 436258

Clownspeak ("hooray for us!"): <<EL PASO, Texas, Nov 2 (Reuters) - Federal Reserve Board Governor Edward Gramlich said on Thursday the Fed has scored a victory in its battle against inflation but warned that future fiscal policies must remain prudent. "Inflation really has come down steadily for that past three or four years," Gramlich said when asked at a conference about the Fed's success in reducing inflationary risks. "We have satisfied our chairman's definition of stable prices which is that they are not factored into economic decisions. We aim to keep satisfying that," Gramlich added, referring to Fed chief Alan Greenspan. He was speaking at a conference on Mexico hosted by the Federal Reserve Bank of Dallas. The Fed pushed up interest rates six times from June 1999 to May 2000 to help slow America's red-hot growth and keep inflation in check. New data reporting a slowdown in manufacturing activity confirm the Fed's credit tightening campaign is taking hold even as the economy remains healthy overall. "I can't remember when there were more statistics pointing in a good direction," Gramlich said.>> Note the reference to "statistics" - like duuuuh. What do you expect in an election cycle?