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Peoria, Ill.-Area Economy Is Still Strong, but Is Showing Signs of Slowing.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, November, 2000 by Howard, Clare
Nov. 21--PEORIA, Ill.--"Alan Greenspan has done an excellent job slowing the economy, and I hate him," one local businessman quipped during a Bradley University forum recently.
Greenspan, chairman of the Federal Reserve, which oversees U.S. monetary supply, has spearheaded six increases in the federal funds rate over the past 17 months in order to slow the economy.
The increases were a preemptive strike against inflation, and their impact is clearly evident in a recent report on the third quarter financial health of the Peoria area.
"This is not a bad economic story. We're in good shape, but we've broken the record-setting growth. We saw no growth in the third quarter, and I don't expect growth in the next quarter," said Bernard Goitein,...
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