06-03-2003, 05:31 PM
|
 |
Administrator
|
|
Join Date: Oct 2001
Posts: 11,650
Rep Power: 50
|
|
Quote:
<APPLET CODE="NewsTicker.class" CODEBASE="http://ticker.ap.org/ticker5" WIDTH="750" HEIGHT="18" ALT="UpToTheMinuteNews" ALIGN="top">
<PARAM NAME="copyright" VALUE="Detlef Beyer">
<PARAM NAME="offh" VALUE="740">
<PARAM NAME="offv" VALUE="18">
<PARAM NAME="imgh" VALUE="10">
<PARAM NAME="imgv" VALUE="5">
<PARAM NAME="imghb" VALUE="2">
<PARAM NAME="imgvb" VALUE="0">
<PARAM NAME="size" VALUE="12">
<PARAM NAME="style" VALUE="BOLD">
<PARAM NAME="font" VALUE="Times">
<PARAM NAME="spot" VALUE="yes">
<PARAM NAME="lines" VALUE="1">
<PARAM NAME="pause" VALUE="0">
<PARAM NAME="animtype" VALUE="13">
<PARAM NAME="debug" VALUE="no">
<PARAM NAME="gifon" VALUE="no">
<PARAM NAME="ranstart" VALUE="no">
<PARAM NAME="path" VALUE="http://ticker.ap.org/ticker5/txt/ticker.txt">
<PARAM NAME="background" VALUE="000000">
<PARAM NAME="textcolor" VALUE="00ff00">
<PARAM NAME="spotcolor" VALUE="ffcc33">
<PARAM NAME="reload" VALUE="yes">
<PARAM NAME="speed" VALUE="3.0">
<PARAM NAME="break" VALUE="no">
</APPLET>
<h2><font color=#003399>Greenspan Sees 'Marked Turnaround' in Economy </font></h2>
[img]http://groups.msn.com/_Secure/0TwDjAqYY7*qPkmt2xJUPp9IsqzBTYRvVNLs8MQ8zC45EJH*Xr 3tea!7zYs3QTIcQGbkvvStVOkohyJHZ6hnbYCWUU8I7EDFigpY B62KwzUg76YLmlwkdKg/greenspan_fedcut2.0.jpg[/img]BERLIN-- Federal Reserve chief Alan Greenspan said Tuesday he sees indications of a "fairly marked turnaround" in the U.S. economy.
Data for May suggest the economy has "stabilized," he told a conference of top central bankers in Berlin.
"The acceleration has not yet begun," he said, before noting that recovering stock markets and other indications "are suggestive of a fairly marked turnaround."
Recent productivity gains and the impact of tax cuts taking effect July 1 will likely boost consumer spending and feed into the job market, Greenspan said, though he also injected some caution into his remarks.
"We are stabilizing and there is some indication of return, but it's not at this stage by any means clear," said Greenspan, addressing the conference via audio link.
Greenspan renewed previous assessments that deflation is a remote threat.
"All in all, we're looking at a low-probability event," he said.
Earlier, the head of the European Central Bank-- speaking two days before a decision on whether to cut interest rates-- said Europe's economic growth remained weak in the first half of the year and forecast that inflation will stay subdued in the next few months.
But ECB president Wim Duisenberg also suggested that the low cost of borrowing is already helping European companies recover and predicted improved growth for the second half of the year.
The ECB is widely expected to cut interest rates by as much as half a percentage point Thursday to spur growth in Europe, though Duisenberg gave no clear signal in his conference remarks.
The European Union's head office said last week that inflation fell to an annual rate of 1.9 percent in May in the 12 countries that use the shared euro currency.
Duisenberg noted that the euro's recent sharp rise against the dollar has taken even more upward pressure off prices in Europe, since a stronger currency makes imported goods and raw materials cheaper.
The ECB leadership has kept the key refinancing rate at 2.5 percent since a quarter-point cut March 6 even as economists say the case for lower rates has become clearer and clearer.
The euro countries showed zero growth in the first quarter, and the International Monetary Fund has warned that Germany, the continent's biggest economy, is at risk of debilitating deflation-- a vicious circle of falling prices and growth.
Other bankers at the privately sponsored conference in a luxury hotel in Berlin were Bank of England head Sir Edward George, Bank of France governor Jean-Claude Trichet and Toshiro Muto, deputy governor of the Bank of Japan.
Full Article <font color="red"><u>Here</u></font>
|
|
Linear Mode
Similar Threads