Rubin: Wall Street, Economy Look Good
From Times Staff and Wire Reports
Despite recent volatility in the stock market, Treasury Secretary Robert E. Rubin said stock prices over the long run will reflect the health and future prospects for the economy, which he said are good. Rubin said on CNN’s “Evans and Novak” program that Clinton administration economic policymakers were not monitoring financial markets more than usual although stock prices took a roller-coaster ride last week. After gaining more than 91 points in the first two days of the week, the Dow Jones industrial average tumbled sharply in the next two and then gyrated wildly within a 93-point range on Friday. It lost a net 77 points in the week.
