Dallas Fed's McTeer Still a New-Paradigm Optimist

Apr 12, 2001, 01:00 ET from Federal Reserve Bank of Dallas

    DALLAS, April 12 /PRNewswire/ -- Bob McTeer, president and CEO of the
 Federal Reserve Bank of Dallas, says he remains a new-paradigm optimist though
 the recent economic slowing has some questioning the New Economy's vitality.
     In his president's letter introducing the Bank's 2000 Annual Report,
 McTeer writes that the New Economy was never about sky-high price-earnings
 ratios or the end to business cycles.
     "It was and is about invention, innovation, risk-taking, animal spirits,
 and new ways of thinking and working," he says.  "It's about new technology
 increasing productivity and growth potential, about technology, productivity
 and global competition tempering inflation."
     The Bank's 2000 Annual Report essay, "Have a Nice Day! The American
 Journey to Better Working Conditions," is about the improvement in working
 conditions.  McTeer draws on his own work life and career to illustrate the
 essay's significance.
     "In our new economy, work and play, work and leisure, home and office,
 workweek and weekend are blending together.  Time and place are becoming less
 important," McTeer concludes.
     McTeer's views and the annual report essay can be found on the Dallas Fed
 web site, http://www.dallasfed.org/htm/pubs/annual/arpt00.html .
 
 

SOURCE Federal Reserve Bank of Dallas
    DALLAS, April 12 /PRNewswire/ -- Bob McTeer, president and CEO of the
 Federal Reserve Bank of Dallas, says he remains a new-paradigm optimist though
 the recent economic slowing has some questioning the New Economy's vitality.
     In his president's letter introducing the Bank's 2000 Annual Report,
 McTeer writes that the New Economy was never about sky-high price-earnings
 ratios or the end to business cycles.
     "It was and is about invention, innovation, risk-taking, animal spirits,
 and new ways of thinking and working," he says.  "It's about new technology
 increasing productivity and growth potential, about technology, productivity
 and global competition tempering inflation."
     The Bank's 2000 Annual Report essay, "Have a Nice Day! The American
 Journey to Better Working Conditions," is about the improvement in working
 conditions.  McTeer draws on his own work life and career to illustrate the
 essay's significance.
     "In our new economy, work and play, work and leisure, home and office,
 workweek and weekend are blending together.  Time and place are becoming less
 important," McTeer concludes.
     McTeer's views and the annual report essay can be found on the Dallas Fed
 web site, http://www.dallasfed.org/htm/pubs/annual/arpt00.html .
 
 SOURCE  Federal Reserve Bank of Dallas