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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Nadine Carroll who wrote (130038)	3/2/2001 11:59:30 AM
From: Neocon	Read Replies (1) \| Respond to of 769667

I will buy that.....

To: Nadine Carroll who wrote (130038)	3/2/2001 12:00:02 PM
From: Zoltan!	Respond to of 769667

And that's why Clinton clearly gets the blame. >>Factually, we're not even in a recession, just a sharp slowdown from a boom. You don't know that. It's not a fact.

To: Nadine Carroll who wrote (130038)	3/2/2001 3:13:12 PM
From: JDN	Read Replies (1) \| Respond to of 769667

Dear Nadine: Well, here is Greenspans reply. jdn Greenspan: Surplus Big Enough for Tax Cuts and Debt Reduction By MARTIN CRUTSINGER .c The Associated Press WASHINGTON (March 2) - Federal Reserve Chairman Alan Greenspan on Friday rejected suggestions that the economy slowed dramatically because the central bank bungled the handling of monetary policy. He said the Fed's string of rate increases that ended in May probably prevented an even more severe slowdown. Greenspan told members of the House Budget Committee that he did not accept the view of critics that the Fed, which was raising rates through May of last year, had waited too long to begin reducing rates in the face of growing signs of economic weakness. Instead, Greenspan said that had the Fed moved too soon to cut rates, it could have forced an even larger adjustment than is currently occurring. Greenspan has said previously that he believes economic growth at present is close to zero but that the economy is not in a recession. ''In retrospect, I see nothing that we did that was inappropriate in terms of policy,'' Greenspan said in response to questions. Greenspan would not be pinned down on whether the Fed, as widely expected, will deliver a third rate cut when it next meets on March 20. The Fed reduced rates twice in January in response to the rapidly slowing economy. But Greenspan repeated that the central bank sees no signs inflation is threatening to get out of control, despite the sharp rise in energy costs. ''We think inflation at the moment is very well contained,'' Greenspan said, a comment indicating that the central bank could cut rates further without triggering price pressures. On Wall Street, stock indices fluctuated broadly. Shortly after midday, the Dow Jones industrial average was up 75 points and the Nasdaq index had recovered most of the day's loss but was still down 22 points. Greenspan repeated his views that the government's budget surpluses have grown so large that there is room to cut taxes. But again he refused to specifically endorse President Bush's $1.6 trillion package as the correct size. That is a judgment call for Congress and the administration, he said.