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“Fiscal policy is still too tight for current circumstances.”
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“That does not make us, or our clients, very happy.”
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“If our outlook is correct, very rich valuations for the best tech stocks will persist, ... Maybe for years.”
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“The risk to this new forecast is down, not up.”
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“Our 1999 (U.S.) GDP forecast was cut to 0.7 percent from 1.8 percent,”
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