There is good news about our economy. Economists had forecast GDP would advance at a 3.6% rate in the July-to-September quarter. The economy has now expanded faster than 3% for 10 straight quarters.3.8% growth in spite of hurricanes is excellent. Think what it might have been. The tax cuts have stimulated the economy.
President Bush's nomination of a highly qualified replacement for Alan Greenspan as Federal Reserve Chairman is expected to pass Senate confirmation easily. This is great news. Economist Ben Bernanke is expected to follow Greenspan's guidance. Mister Greenspan is seventy-nine years old. "He has won praise for his guidance of the world's largest economy." See the story by (Mario Ritter) for details.
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