Economic Recovery to Continue, Predict U.S. Corporate Leaders
The nation's economic recovery has lasted longer than a typical expansion, and America's corporate leaders see nothing to stop it from continuing through next year.</br></br>To the leaders of Fortune 500 companies, who wrapped up three days of discussion today, the Federal Reserve under Chairman Alan Greenspan has achieved a rare feat. It has brought the economy in for a soft landing -- in which growth is slowed enough to keep inflation under control without dumping the country into a recession. This means the four-year-old economic recovery can keep cruising along.</br></br>The Business Council also said the long-term outlook for the economy could be improved even further if Congress cuts federal spending but avoids the temptation to put the reductions into tax cuts that could add to the federal deficit.</br></br>The executives seemed confident as they listed the evidence that suggests continued good times are ahead.</br></br>"A large majority of members thought monetary policy over the past year has been just about right," said Richard Rosenberg, who runs BankAmerica Corp.