November 6, 2003

Employment Growth Soon

Federal Reserve Chairman Alan Greenspan had some positive things to say about the economy in a speech this morning to the Securities Industry Association. He appears pretty optimistic about the growth in the economy and how low inventories will lead to increase employment.

I personally think that the Federal Reserve made a mistake back in November 2000 by not lowering the short-term interest rate. I believe this was because the Presidental election recount was a distraction. Had they lower the rate early enough the recession would have been much shorter.

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