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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (36981)	5/10/2002 11:50:23 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69759

DJ Greenspan/Economy -3: Fed Rethinks Position The Fed had previously dismissed the high growth and astronomical stock returns of the late 1990s as a cyclical anomaly propelled by "irrational exuberance" on the part of investors and lenders, Greenspan once said. But with the sustained growth during the most recent recession, Greenspan said, the Fed is rethinking its position. "Something did happen to the long-term productivity growth rate some years back ... yes, it increases the per-year GDP growth rate," he said. The Fed needed to see how the economy performed during a downturn to determine whether the shift was more than just a cyclical boom. "We did have a turn (in the economy), and productivity behaved far better" than it did during previous recessions, he said. (MORE) DOW JONES NEWS 05-10-02 11:18 AM [Harry: It looks like Greenspan is trying to talk the market up, similar to how he tried to talk it down in the 90's. This is a fairly shakey premise he is promoting. The economy start stronger than normal because they increased liquidity at a unprecedent rate. You have to pay for that amount of liquidity at some point.]