sieht nicht gut aus,Wachstum das langsamste seit 5,5 Jahren,Nasdaq jetzt im 2Jahres-Low,Techs 60% unter März 2000 Chip sector fällt wieder
WASHINGTON (CBS.MW) - The Federal Reserve sees no reason for an immediate, emergency cut in interest rates, Chairman Alan Greenspan indicated in testimony Wednesday.
While consumer confidence has indeed weakened and "will require close scrutiny in the period ahead," he said, the data suggest "that consumers have retained enough confidence to make longer-term commitments."
Greenspan's calming testimony before the House Financial Services Committee dashes hopes of investors and analysts who were counting on the Fed to cut rates as early as this week in response to further weak economic data.
WASHINGTON (CBS.MW) - The U.S. economy grew at a slower pace in the fourth quarter than first thought, according to revised data issued by the government on Wednesday.
Gross domestic product, a measure of the output of goods and services produced by labor and property, rose 1.1 percent in the final three months of 2000. This marks a downward revision from the 1.4-percent growth rate first reported by the Commerce Department.
The pace of growth is the slowest in 5 1/2 years.
NEW YORK (CBS.MW) -- Weak chip issues sent tech stocks near their low of the year Wednesday as hopes of a quick interest rate cut by the Fed seem to be dashed -- at least for now.
Fed Chairman Alan Greenspan didn't instill an emergency rate cut, as many economists had expected he would from his morning meeting with the House Financial Services Committee. He noted that consumer confidence has weakened, but said, "consumers have retained enough confidence to make longer-term commitments."
WASHINGTON (CBS.MW) - The Federal Reserve sees no reason for an immediate, emergency cut in interest rates, Chairman Alan Greenspan indicated in testimony Wednesday.
While consumer confidence has indeed weakened and "will require close scrutiny in the period ahead," he said, the data suggest "that consumers have retained enough confidence to make longer-term commitments."
Greenspan's calming testimony before the House Financial Services Committee dashes hopes of investors and analysts who were counting on the Fed to cut rates as early as this week in response to further weak economic data.
WASHINGTON (CBS.MW) - The U.S. economy grew at a slower pace in the fourth quarter than first thought, according to revised data issued by the government on Wednesday.
Gross domestic product, a measure of the output of goods and services produced by labor and property, rose 1.1 percent in the final three months of 2000. This marks a downward revision from the 1.4-percent growth rate first reported by the Commerce Department.
The pace of growth is the slowest in 5 1/2 years.
NEW YORK (CBS.MW) -- Weak chip issues sent tech stocks near their low of the year Wednesday as hopes of a quick interest rate cut by the Fed seem to be dashed -- at least for now.
Fed Chairman Alan Greenspan didn't instill an emergency rate cut, as many economists had expected he would from his morning meeting with the House Financial Services Committee. He noted that consumer confidence has weakened, but said, "consumers have retained enough confidence to make longer-term commitments."
