Economy: Feb. 16, 2001
Federal Reserve chairman Alan Greenspan said the economy has stabilized after a rough start at the beginning of the year, but warned there are continued risks looming over the economy in the future. Greenspan made no mention of any future plans to try to boost the economy with another round of interest rates hikes...A group of survey economists said they expect this year to be the worst since 1991 but only a few said they thought the economy was in a recession. That was the news from a survey by Blue Chip Economic Indicators, which found only 5 percent of the economists polled said the economy was currently in recession, typically defined as two or more consecutive quarters of falling output. The survey found that many economists said the threat of recession has been avoided so far by inventory correction on the part of companies cut back on production in reaction to slowing sales.
