[jsfg_cinti] ARTICLE: Fed chief: Economy looks good

Dear JSFG Folks,

Here's some more good news about the economy.  This
should have a positive effect on hiring.  Let's hope
so.

Have a great day!

Regards,
Lance Feldman

--------- Begin article excerpt ------------------
http://news.enquirer.com/apps/pbcs.dll/article?AID=/AB/20070215/BIZ/702150301
or
http://tinyurl.com/3d3hqa

Fed chief: Economy looks good
BY JEANNINE AVERSA | THE ASSOCIATED PRESS

WASHINGTON - Federal Reserve Chairman Ben Bernanke
offered a mostly upbeat assessment of the economy
Wednesday, citing improvements in inflation and
housing in comments suggesting the Fed will leave
interest rates alone for a while.

Wall Street liked the message and propelled stocks
sharply higher. The Dow Jones industrials gained 87.01
points to close at a new high of 12,741.86.

Bernanke said that at present, interest rates are at a
level that is "likely to foster sustainable economic
growth and a gradual ebbing of core inflation."

"Overall, the U.S. economy seems likely to expand at a
moderate pace this year and next, with growth
strengthening somewhat as the drag from housing
diminishes," he said as he delivered the Fed's
economic report for the first time to a
Democrat-controlled Congress.

The Fed has held a key interest rate steady at 5.25
percent since August, giving borrowers a reprieve.
...
The committee chairman, Sen. Christopher Dodd,
D-Conn., a 2008 presidential hopeful, and some
colleagues said they thought Bernanke was doing a good
job in managing the world's largest economy.

Bernanke said he is not happy with the United States'
record-high deficits but suggested erecting
protectionist barriers would do more harm than good.
...
In its latest economic projections, the Fed said that
it expects the economy this year to grow between 2.5
percent and 3 percent - as measured from the fourth
quarter of last year to the fourth quarter of this
year.

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