Greenspan!!!!!!! o.T.

1:46pm 01/11/02   GREENSPAN: TERROR REMAINS A RISK

1:46pm 01/11/02   GREENSPAN: BUDGET DEFICIT KEEPING LONG-TERM RATES UP

1:45pm 01/11/02   GREENSPAN: 'SIGNIFICANT RISKS IN NEAR TERM'

1:46pm 01/11/02   GREENSPAN: JOBLESS RATE LIKELY TO RISE FOR SOME TIME

1:46pm 01/11/02   GREENSPAN: INVENTORY REDUCTION POINTS TO HIGHER OUTPUT

1:45pm 01/11/02   GREENSPAN CAUTIOUS ON RECOVERY

Greenspan cautious on recovery by Rex Nutting
 
      The U.S. economy is getting better, but faces "significant risks in the near term,"
      Federal Reserve Chairman Alan Greenspan said Friday. In prepared remarks, the
      nation's top central banker left open the possibility that the Fed might cut rates
      again to solidify the recovery. "There are sound reasons for concluding that the
      long-run picture remains bright, and even recent signals about the current course of
      the economy have turned from unremittingly negative through the late fall of last year
      to a far more mixed set of signals recently," Greenspan said. "But I would
      emphasize that we continue to face significant risks in the near term," he said.
 
       

The key to strong consumer spending remains the labor market, he said. While recent data show "some abatement in the rate of job loss," he cautioned that "the unemployment rate may well continue to rise for a time."

"Job losses can be expected to put something of a damper on consumer spending," Greenspan said.

Capital spending remains another question mark. "For much of last year, the resulting decline in investment outlays was fierce and unrelenting," he said. And while companies have been cutting costs as fast as they can, "the virtual absence of pricing power" means that "profit margins are still under pressure."

Once profits and cash flow improve, "capital spending should begin to recovery noticeably," he said.

Despite the failure of Congress to enact further fiscal stimulus, the earlier tax cuts "should provide noticeable short-term stimulus to demand," he said.

Greenspan seemed to side with Senate Majority Leader Tom Daschle, who has argued that the big tax cuts yet to come have hurt the economy now.

"Some of the firmness in long-term interest rates probably is the consequence of the fall of projected budget surpluses and the implied less-rapid paydown of Treasury debt," Greenspan said.

At times, Greenspan expressed awe and admiration for the way the economy has dealt with the recent shocks to the system, including the Sept. 11 terror attacks, the collapse of capital spending and the long bear market.

"For the economy to have weathered as well as it has a severe deflation of equity asset values followed by an unprecedented blow from terrorists to the foundations of our market systems is impressive," he said.

That resilience is due to the advances in information technology, as well as "the globalization and deregulation of our markets as well," he said.

Greenspan remains an optimist on the economy's long-term prospects. He said the economy has implemented less than half of the timesaving productivity enhancements now available.

Rex Nutting is Washington bureau chief of CBS.MarketWatch.com.

:49pm 01/11/02   GREENSPAN: SUSTAINED DEMAND NEEDED TO CEMENT RECOVERY

1:47pm 01/11/02   GREENSPAN: DATA HAVE TURNED MIXED IN RECENT WEEKS

1:48pm 01/11/02   FEBRUARY GOLD CLOSES AT $287.70/OZ., UP 40 CENTS

1:48pm 01/11/02   GREENSPAN: 'IMPRESSIVE' US ECONOMY HAS WEATHERED STORM

heute abend noch viel spass mit Onkel Alan.
Bis nächste wochen dann.

Gruss @all Mio.

1:55pm 01/11/02  Greenspan trips stocks, lifts bonds ($INDU, $COMPQ) By Tomi Kilgore
The major market indexes have knee-jerked lower following Greenspan's comment that the economy continues to face "significant risks in the near term." The Dow Industrials ($INDU) is down 50 points at 10,018 and the Nasdaq Composite ($COMPQ) is shedding 21 points to 2,026 (see 1:29 item), versus 10,038 and 2,035, respectively, just prior to the release of the text of his speech. The yield on the benchmark 10-year Treasury bond has fallen to 4.847 percent, from about 4.93 percent just before his speech.  

USA: Greenspan-Rede drückt zunächst auf die Kurse
 

 
Pünktlich mit Beginn der Rede von US-Notenbankchef Alan Greenspan fallen die US-Märkte tiefer in den roten Bereich. Der Fed-Chef erklärt zwar, es gäbe Zeichen, dass sich die US-Wirtschaft stabilisiere, doch sei es noch zu früh, um zu erkennen, ob sich die für die Konjunktur belastenden Kräfte verringert haben. Kurzfristig gebe es noch hohe Risiken. Die Konjunkturdaten der jüngsten Zeit hätten sich zudem nur von klar negativ auf gemischt verbessert. Greenspan sieht außerdem das Risiko, dass die amerikanische Arbeitslosenqoute weiter steigt und so die Verbraucherausgaben sinken. Die machen allerdings ein Drittel der US-Wirtschaft aus. Zusätzlich erklärt der Fed-Boss, sei der negative Effekt der Kursrückgänge an den US-Börsen auf die Verbraucherausgaben nocht nicht vollständig durchgeschlagen.

Autor: Björn Junker, 20:04 11.01.02

Greenspan sagte, dass die Gefahr weiterer Terroranschläge wie ein Damoklesschwert über der Entwicklung der US-Konjunktur hinge. Es gebe "ernstzunehmende Unsicherheit, der wir uns in diesen Tagen alle stellen müssen. Die Gefahr weiterer Terror Ereignisse auf amerikanischem Boden. Es ist einfach nicht möglich vorauszusagen, ob es solche Ereignisse erneut geben wird und wie sich diese auf die weitere Entwicklung der Konjunktur auswirken würden."

Die Märkte haben die Rede negativ aufgefasst. Nachdem die US-Hauptindices während des heutigen Handelsverlaufs um Null tendierten, fielen sie im Vorfeld der Rede. Der Dow verliert zur Stunde um 0.38 Prozent, der Nasdaq tickt um 0.94 und der S&P 500 um 0.58 Prozent in den roten Bereich.

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