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Strategies & Market Trends : rat's nest -- Ignore unavailable to you. Want to Upgrade?

To: AugustWest who wrote (175)	1/25/2001 2:28:29 PM
From: AugustWest	Respond to of 844

(COMTEX) B: Fed Summary: Greenspan says US growth probably "very clos B: Fed Summary: Greenspan says US growth probably "very close to ... Jan 25, 2001 (FWN Select via COMTEX) -- TOP STORIES: Greenspan says US tax cuts appear "required" over next several years Washington--Jan. 25--Federal Reserve Chairman Alan Greenspan said Thursday that tax cuts "appear required" in the next several years to prevent the government from getting into a situation where it starts accumulating private financial assets due to swelling budget surpluses. Greenspan, in prepared testimony to the Senate Budget Committee, said tax cuts should be started "sooner rather than later" to help "smooth the transition to longer-term fiscal balance." ( Story .18627 ) Greenspan says US economic growth probably "very close to zero" now Washington--Jan. 25--Federal Reserve Chairman Alan Greenspan said there has been a "dramatic slowing down" in the U.S. economy and, "We are probably very close to zero" now in terms of economic growth. ( Story .17929 ) Greenspan sees "low probability" of US recession Washington--Jan. 25--Federal Reserve Chairman Alan Greenspan indicated he thought there was a low probability of a recession in the U.S. economy, saying recessions are "low probability" events. But Greenspan also told the Senate Budget Committee that the U.S. economy probably is at the beginning of a "major inventory correction" and said the outcome of the current period of adjustment should be resolved in about three months "one way or another." ( Story .19490 ) Greenspan says US energy problems significant; must be addressed Washington--Jan. 25--America's energy problems, which include spiking natural gas prices and the California electricity crisis, are significant and must be addressed quickly, Federal Reserve Chairman Alan Greenspan said . He said the nation's "inadequate" energy structure could "undermine" U.S. economic growth. ( Story .17188 ) Greenspan says more electricity capacity needed in California Washington--Jan. 25--California needs to "get more (electricity) capacity in place" to alleviate the ongoing power woes that have pushed the state's two largest utilities to the brink of bankruptcy and caused rolling blackouts, Federal Reserve Chairman Alan Greenspan said Thursday. ( Story .18155 ) Greenspan says fiscal policy "too blunt a tool" to offset recessions Washington--Jan. 25--Fiscal policy is "too blunt a tool" to offset recessionary risks, Federal Reserve Chairman Alan Greenspan said Thursday before the Senate Budget Committee. Instead, shifts in monetary policy would have a more immediate effect in boosting the economy, he added. ( Story .17542 ) Greenspan: Size of proposed US tax cuts "average" on historical basis Washington--Jan. 25--Federal Reserve Chairman Alan Greenspan suggested today the size of the income tax cuts currently under discussion are in line with the overall size of most tax cuts enacted after World War II. ( Story .18746 ) Greenspan says US trade gap cannot continue expanding indefinitely Washington--Jan. 25--Federal Reserve Chairman Alan Greenspan warned again Thursday that the U.S. trade deficit cannot continue to widen without posing problems for the U.S. economy. But Greenspan told the Senate Budget Committee that so far, strong European capital flows to the United States have been adequate to finance the U.S. current account gap. ( Story .18932 ) Full text of Greenspan's testimony to Senate Budget Committee Washington--Jan. 25--The full text of Fed Chairman Alan Greenspan's testimony is available at: ( Story .16560 ) OF INTEREST: Sen. Domenici says "just in time" tax cuts unlikely Washington--Jan. 25--A divided U.S. Congress means a "just in time" easing of fiscal policy is not likely to be passed, although the slowing economy merits tax cuts, Senate Budget Committee Chairman Pete Domenici, R-N.M., said Thursday as his panel prepared to hear testimony from Federal Reserve Chairman Alan Greenspan. ( Story .16031 ) Greenspan says capital gains taxation "less than desirable" Washington--Jan. 25--Raising revenues by taxing capital gains is "less than desirable" because it hits capital accumulation directly, Federal Reserve Chairman Alan Greenspan said, reiterating a long-standing aversion to capital gains taxation. ( Story .18178 ) Ex-Fed Chief Volcker advises caution on US tax cuts Washington--Jan. 25--Long-term U.S. federal budget projections are not "very reliable," and policy makers should be cautious with tax cuts just because forecasters currently see bumper budget surpluses over the next decade, former Federal Reserve Chairman Paul Volcker said Thursday. Although Volcker spoke out on taxes, he refused to say what direction he saw future monetary policy decisions taking. ( Story .18993 ) e (C) Copyright 2001 FWN -0- * end of story *