Re: [CANSLIM] Mr. Greenspan's testimony

From: "zillagirl" <zillagirl@email.msn.com>
Subject: Re: [CANSLIM] Mr. Greenspan's testimony
Date: Sat, 20 Jul 2002 19:37:54 -0700

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Thanks Tom for providing insight about these things for those of us that
know that are relevant but not sure to what degree.  I would have thought
that 1 % was not much but you use the term sizable increase. Helps to see
things more clearly.
- ----- Original Message -----
From: "Tom Worley" <stkguru@bellsouth.net>
To: "CANSLIM" <canslim@lists.xmission.com>
Sent: Saturday, July 20, 2002 5:02 PM
Subject: [CANSLIM] Mr. Greenspan's testimony


> Interesting that he waited for the final paragraph of his speech to reveal
> that the Feds were making a sizable increase in their forecasts for this
> year's GDP growth rate. This is a full percent increase over what they
> forecasted as recently as Feb '02. This and other comments clearly hint at
> no rate hikes this year, and this quote suggests an accommodative stance
> continuing well into next year as well (note that the unemployment
forecast
> is for end of 2003, and that is one element likely to cause a rate hike as
> employment picks up).
>
> quote:
> Indeed, the central tendency of Federal Reserve policymakers' forecasts is
> for expansion of real GDP over the four quarters of 2002 of 3-1/2 to 3-3/4
> percent, somewhat above the rates anticipated in our February report.
> Economic growth is projected to be solid again next year, with real output
> rising 3-1/2 to 4 percent. Monetary policymakers anticipate that these
gains
> should be sufficient to bring the unemployment rate down to 5-1/4 to 5-1/2
> percent by the end of next year. Inflation is expected to be subdued
> throughout, with prices for personal consumption expenditures increasing
at
> only a 1-1/2 to 1-3/4 percent rate.
> unquote
>
> Tom Worley
> stkguru@bellsouth.net
> AIM: TexWorley
>
>
>
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