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COPYRIGHT 2001 Daily News
Byline: David Andelman
Mar. 21--Alan Greenspan's Fed recognized yesterday for the first time that Americans feel poorer because of the stock market.
"For the first time I can remember, the Fed is recognizing this negative wealth effect is hurting consumer spending in this country, and consumer spending is two-thirds of the economy," said Philip Ferguson, senior investment officer of the AIM Funds group, which manages $170 billion.
Even small investors in normally secure...
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