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Technology Stocks : MRV Communications (MRVC) opinions? -- Ignore unavailable to you. Want to Upgrade?

To: signist who wrote (27356)	11/7/2000 1:27:29 AM
From: signist	Read Replies (3) \| Respond to of 42804

"I do have a concern that at a time when the Federal Reserve believes that the economy is growing robustly and doesn't want to keep interest rates too low, I think it's a problem to provide lots of fiscal stimulus." Abby J. Cohen ____________________________________________________________ Someone should tell the telecoms "the economy is growing robustly" or maybe tell the street. DUH! What am I missing? ____________________________________________________________ (REUTERS) Abby Joseph Cohen criticizes Bush plan for surplus By Emma-Kate Symons NEW YORK, Nov 7 (Reuters) - Influential Wall St analyst Abby Joseph Cohen labelled Republican George W. Bush's plans for spending the budget surplus "mathematically challenged," in a speech on the eve of the tightly run presidential race. While the Goldman Sachs & Co chief strategist stopped short of endorsing Democratic candidate Al Gore, she gave the Clinton administration a glowing economic policy scorecard. Cohen also warned that the U.S. economic miracle could be brought down by a change in economic policy "in the wrong direction." "We are indeed at a very important inflection point in terms of economic policy," Cohen said in her speech entitled "The ingredients of economic success," delivered at a conference organised by American supporters of Israel's Ben-Gurion University of the Negev. "Decisions that will be made tomorrow in the United States and over the next several months in terms of economic policy could have very significant implications." Cohen, whose employer is a leading corporate backer of the Democratic Party, criticized both candidates for using 10-year forecasts for the surplus. But she singled out Bush's spending plans. The Republican candidate has promised a $483 billion tax cut package over five years. "I have a significant problem specifically with Mr Bush's programme," Cohen said. "For those of you who are wondering his is a mathematically challenged programme," she added to cheers and claps from guests. "I do have a concern that at a time when the Federal Reserve believes that the economy is growing robustly and doesn't want to keep interest rates too low, I think it's a problem to provide lots of fiscal stimulus." In other comments, Cohen said continued U.S. economic success was unsustainable if it did not reach large numbers of working Americans, for instance through expanded access to education. "If all you do is bring along a small number of well-educated people you are leaving too many people behind," she said. Cohen praised President Bill Clinton's administration for pushing through tough budgets and expanding free trade, compared to the more "protectionist" policies of the 1980s under Republican Ronald Reagan. "It's fair to say that the Clinton administration has followed truly outstanding economic policies," Cohen said. In this election season Goldman Sachs has given around $2 million, or more than 70 percent of its campaign contributions to the Democrats, according to the independent Centre for Responsive Politics. Former Goldman Sachs executive Jon Corzine is the Democratic Senate candidate for New Jersey. ((--Wall Street desk, 212 859 1730)) REUTERS * end of story *