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Fed: "Economies Screw Up Sometimes, But That's Okay"October 28th, 2001
WASHINGTON, DC -- As economic analysts eagerly await a slew of key reports due out next week that fully quantify the effects of September 11th on the nation's economy, economic leaders sought to prepare the public for the results.
"Listen, there's going to be some good news and some bad news, and the really important thing is that we are all still here. I mean that's what really matters," said Fed Chair Alan Greenspan at a conference today. "Economies just mess up sometimes. It's nobody's fault. But you know what? That's okay. It just happens," said Treasury Secretary Paul O'Neil. He urged that "We just have to put on our happy faces and learn to accept our economy for what it is." "Sometimes markets go up. Other times they go can down," said Federal Reserve Bank of St. Louis chair William Poole. "It doesn't matter which way the economy goes, as long as we all try to do our best." |
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