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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (31536)	2/21/2001 12:07:53 PM
From: SecularBull	Read Replies (1) \| Respond to of 65232

O'Neill: Economy not in recession By Rachel Koning, CBS.MarketWatch.com Last Update: 11:40 AM ET Feb 21, 2001 WASHINGTON (CBS.MW) -- The U.S. economy is so far experiencing an inventory adjustment that stops short of recession, Treasury Secretary Paul O'Neill said. "My own sense is that we're not falling anymore," O'Neill told USA Today in an article printed in Wednesday's edition. "I don't think we're out of the inventory correction phase yet, and how long that takes, I don't know." "I hesitate to say we've hit bottom," O'Neill said. He targets output in the current quarter somewhere between a positive 0.5 percent and a negative 0.5 percent. A common definition of a recession is two back-to-back quarters of negative growth. Some recent data, including chain-store sales results and housing sector statistics, signal a rebound for a domestic economy that remains in a record-setting period of expansion. Factory-sector figures are reflective of the last recession, however, and jobless benefits claims remain well-above levels of a year ago. The Bush administration has maintained that the current economic slowdown adds to its argument for tax cuts. While O'Neill suggests tax relief won't interfere with the Federal Reserve's attempts to keep afloat the expansion with interest-rate cuts and may even help, he has maintained that tax policy should stem from principle and has little to do with re-energizing the economy.

To: stockman_scott who wrote (31536)	2/21/2001 2:48:17 PM
From: im a survivor	Read Replies (1) \| Respond to of 65232

<<Lets hope they are more than rumors! The Fed is still way behind the curve in lowering rates, IMO.>> Man, I have no idea what the hell is going on....I agree that greeny id way behind the 8 ball......should have been lowering last october and should be far more aggressive.....but now, today, all I am hearing is that cpi numbers indicate an intermeeting cut is unlikely and that greeny will not be as aggressive with cuts in march......the talk I hear says we will be lucky to get .25 or .50 in march and more then likely it will only be .25 sometimes i really wonder.............