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To: E. Charters who wrote (27999)	2/11/1999 7:36:00 PM
From: goldsnow	Respond to of 116753

Competition behind U.S. economy's health-Greenspan WASHINGTON, Feb 11 - The U.S. economy is performing exceptionally well, mainly because rising competitive pressures have prodded companies to operate more efficiently, Federal Reserve Chairman Alan Greenspan said on Thursday. Asked about the trend of rising inequality as wealthy people have gotten richer, Greenspan responded: "The major reason why there has been an increase in wealth in that regard is that stock prices have gone up very substhttp://www.yahoo.co.uk/headlines/19990211/financial/0918756922-0000020006.html He added, "The reason they have gone up is that the markets have presumed that the capital efficiency of the American economy has improved in a very significant manner. He said the results of that were evident in the economy. "We have an economy that is functioning exceptionally well," Greenspan said, adding that was the case even though wealth and income inequality remained a serious problem.