Is there a new economy?
Article Abstract:
Federal Reserve Chairman Alan Greenspan inaugurated the Haas Annual Business Faculty Research Dialogue at the University of California, Berkeley, on September 4, 1998. In this article, the chief architect of U.S. monetary policy acknowledges the unpredicted and somewhat inexplicable "new" features of the economy. He also lays out some enduring lessons from the old economy. One of those lessons is that expectations about the future inevitably hold sway in the markets for both financial capital and physical capital. Investment inherently turns on expectations about the sizes and risks of profit and loss. These expectations reflect not only data but also human psychology. (Reprinted by permission of the publisher.)
Publication Name: California Management Review
Subject: Business, general
ISSN: 0008-1256
Year: 1998
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Low unemployment and inflation continues as bright spots in the economy
Article Abstract:
The US continues to enjoy impressive economic conditions. In Mar 1999, its inflation rate settled between 1% and 2% while unemployment rate reached its nadir at 4.2%. In addition to these economic indicators, jobs and business capital spending achieved growth while the stock market continues its ascendancy. The only dark spot in this bright economic environment is the failure of corporate profits to exhibit similar upward patterns. Global developments and political issues were also noted.
Publication Name: Standard & Poor's Industry Surveys: Trends & Projections
Subject: Business, general
ISSN: 0196-4666
Year: 1999
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