About

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Andrew T. Gillies is Director of Communications at the Center for Audit Quality, an affiliate of the American Institute of CPAs, in Washington, DC. Based in Washington since 2002, he has also worked in editorial and communications roles at the Investment Company Institute, the World Bank, Forbes, and Vault.com. His policy-themed writing has focused on aerospace and defense, energy and environment, transportation, and financial services.

Wednesday, March 26, 2003

A Value Line Pro Stands Pat On Stocks

Amidst the wartime market's nervous swings, Philip Orlando, chief investment strategist with Value Line Asset Management ($4 billion in assets), stays steady with a bullish outlook.

"There is a lot of pent-up demand among both businesses and consumers that will release itself once the geopolitical clouds lift," Orlando says. If the situation in Iraq calms down, he suggests that such factors could push gross domestic product growth into the 3% to 4% (annual) range for the second half of 2003.

Adding to Orlando's confidence: He sees the right ingredients for economic recovery in the fiscal and monetary policies being pursued in Washington, namely low interest rates, tax cuts, and--despite the recent hubbub--deficit spending. "These things shouldn't happen ad infinitum," he says, "but they are the appropriate near-term policy choices to get an economy out of recession and on to a proper growth path."

Full story at Forbes.com