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

To: Jim Willie CB who wrote (52394)	5/30/2002 2:17:49 PM
From: stockman_scott	Read Replies (2) \| Respond to of 65232

McTeer: Rebound Like Jobless Recovery Thu May 30, 2:01 PM ET MONTREAL (Reuters) - Federal Reserve (news - web sites) Bank of Dallas President Robert McTeer said on Thursday that the U.S. economy's rebound from recession resembled a jobless recovery. In a speech to the Montreal Economic Institute, the Dallas Fed chief also said strong growth in U.S. productivity -- or worker output per hour -- augured well for the long-term health of the economy. But he cautioned that a pickup in business investment was needed to undergird the U.S. recovery. A plunge in business capital spending led the economy into recession last spring. McTeer is currently a voting member of the central bank's policymaking committee.