In the long run, economic growth will continue to get an important boost from the development of new technologies and the discovery of new ways to work better, faster and smarter,

In the long term, though, I think the moderation of growth that we'll witness in 2001 will be a mostly healthy thing,

At this point, I believe inflation and inflation expectations will be largely contained by competitive market forces and continuing adjustments to the stance of monetary policy,

I think monetary policy coming out of the 2001 recession did what it was intended to do, which was cushion the interest-sensitive sectors of the economy, including housing.

I don't see anything at the moment to cause me to be unduly concerned

We don't yet know the full economic effect of the policy moves we have already made. In the months ahead, we'll have to watch the data very carefully to make sure that growth is still on track and inflation expectations are well anchored.