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To: LLCF who wrote (104777)	5/24/2001 11:12:57 PM
From: Don Lloyd	Respond to of 436258

quote.bloomberg.com "...Offering his first assessment of the economy's prospects since February, Greenspan said that while the U.S. is experiencing only a ``pause'' in its record, 10-year expansion, weakness will persist for several more quarters. ..." "...Moving Carefully That means that if the Fed lowers rates again, it must move carefully to avoid causing higher inflation, he said. ``Monetary policy, as we currently practice it, endeavors to lean against economic overshooting, from whatever source, by changing interest rates,'' he said. ``But we are unlikely ever to be successful.'' ..." "...``More advanced supply-chain management and flexible manufacturing technologies have enabled our firms in recent years to adjust production levels more rapidly to changes in sales,'' Greenspan said. ``But apparently these improvements have not yet solved the thornier problem of anticipating demand.'' ..." "...Computer Inventories While automakers seem to have succeeded in lowering their inventories to acceptable levels, stocks of computers, semiconductors, and communications products ``are only belatedly being brought under control,'' Greenspan said. ``A substantial liquidation still appears ahead for these products.''..." "...With demand for investment goods still weak, companies are facing an ``unrelenting'' profit squeeze, he said. ..." Regards, Don