SFSU Public Affairs Press Release Published by the Public Affairs Office at San Francisco State University, Diag Center.

#012
FOR IMMEDIATE RELEASE

Contact: Ted DeAdwyler
phone: (415) 338-1665
e-mail: pubcom@sfsu.edu

SAN FRANCISCO, August 21, 2001…Betty Blecha, professor of economics at San Francisco State University and an expert on the national economy, is available to offer analysis on the Federal Reserve's action today to lower interest rates for the seventh time this year. Blecha, a senior member of the economics faculty at S.F. State, is a keen observer of the U.S. economy and teaches a course on economics and public policy. Blecha can be reached at (415) 338-7516 or (650) 583-5339 or via e-mail at: bjblecha@sfsu.edu. For additional assistance, call Ted DeAdwyler of the S.F. State Public Affairs Office at (415) 338-7110.

Comments from S.F. State economics professor Betty Blecha on the Fed's rate cut and the direction of the U.S. economy ---

"Many expected that the Fed would lower the target Federal Funds rate by .25 today, but the bigger question is what impact the series of rate cuts is having on the economy. People need to understand that the Fed's ability to stimulate the economy in the short term is quite limited. The jury is still out on whether we are moving into a recession. The economy continues to generate mixed signals, along with some puzzles. The employment figures remain strong. I expect that we are going to see a year with ve ry little economic growth. Stimulating long-term economic growth is the major issue confronting policy makers."

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Last modified April 24, 2007, by Office of Public Affairs