European Stars and Stripes (Newspaper) - February 21, 1990, Darmstadt, Hesse                                Page 4 the stars and stripes wednesday february 21.1990 fed chairman says threat of recession has eased up near term economic performance suggest that the weakest Point May have  Greenspan s testimony served to reaffirm statement she made three weeks ago in another congressional appear Ance. The fed s economic fore cast showed that the Central Bank is looking for the econ omy As measured by the Gross National product to grow at an anaemic rate of be tween 1.75 percent and 2 per cent this year. That is far below the administration s projection of2.6 percent growth this year when measured from the Federal Reserve Board chairman Alan Greenspan reads f ourth Quarter of 1989.a newspaper before testifying tuesday on Capitol Hill. The  is pin. Ning its Hopes of cutting the budget deficit in half on a belief that economic growth will rebound significantly in 1990 from the depressed level in the fourth Quarter when the Gnu Rose at an annual rate of just 0.5 per cent its poorest showing in 3 i years. But if As appears Likely the fed pursues a tighter credit policy to Dampen inflationary pressures then interest rates will be higher than the administration is forecasting and growth will be slower two developments that will add billions of dollars to the deficit. The fed s economic forecast for 1990 represented Only a modest change from a preliminary estimate the Central Bank made last june when it forecast growth of 1.5 percent to 2 percent. However the fed substantially lowered its inflation estimate to 4 percent to 4.5 percent for consumer prices Down from a june forecast of 4.5 percent to 5 percent signalling perhaps a renewed emphasis on get he said. Available indicators of Ling prices lower. Washington a Federal Reserve chairman Alan Green Span said tuesday the Economy has Likely passed the danger Point for an imminent recession and he predicted continued although mod est economic growth for the rest of this year. Greenspan said the Cen trial Bank expects the econ omy to grow far More sluggishly this year than the Bush administration predicts. That scenario could dash the administration shopes of making significant Progress on reducing the budget deficit. Greenspan s comments came during an annual appearance before Congress to reveal the fed s monetary and economic growth tar gets for the new year. His testimony bolstered the belief among Many Pri vate economists that the fed is not Likely to lower interest rates soon. Greenspan emphasized that the Economy appears to be rebounding from an extremely sluggish period fro october to december even As inflationary pressures remain at unacceptable Levels. The fed chairman cited a string of recent reports show ing a rebound in economic activity in january ranging from rising Auto sales to a big jump in housing construct  these and similar data one can infer the beginnings of a modest firming in economic activity Greenspan told a House banking subcommittee. While we cannot be certain that we arc As yet out of the recessionary Woods such evidence warrants at least guarded optimism T a a i i Oung americans have gone too far. They must Stop their  Linda Rahman shows off her top prize creation. Grad student9 s Brunch cake wins bake off Phoenix a a Blueberry poppy seed Brunch cake won $40,000 for a Marathon run Ning tax accountant tuesday in the 34th Pillsbury bake off cooking and baking contest. Linda Rahman of Petaluma calif., a graduate student at Golden Gate University and a Mother of two won with a cake judges said offered a refreshing flavor blend of Blueberry Lemon and poppy seed combined with easy preparation and an appealing appearance. Rahman also won a $10,000 Kitchen makeover from bake off co sponsor Sears. One Man and four other women also won $ 10,000, and two men were among the $2,000 win  route to selecting the 100 finalists in de Cember including a record 12 men tse Pillsbury co. Considered More than 00,000 recipes. Ill Ness forced one woman to miss the Competition. Recipes were considered in one of four general groups indulgent treats healthful alternative ethnic specs allies and Quick ideas the latter being the group in which Rahman s cake was entered. Winners were further categorized by the Type of Pillsbury product on which their recipes Cen tired for instance mashed potato flakes. Rahman s cake was made with flour. The $10,000 winners included Paula Cassidy of Berkeley calif., in the refrigerated pie crust category Christine Vidra of Maumee Ohio cake an Brownie mix Scott Wolf Salem ore., Frozen vegetables Nancy Woodside Sonora calif., canned vegetables and mashed potato flakes and Sharon Richardson of Dallas refrigerated Crescent dinner Roll biscuit and pizza crust. Debra Wolf 20, Scott wolfs sister and a $2,000 Winner who is also from Salem ore., said her inspirations often occur while she s sleeping. It s mostly when i sleep or dream. Some limes you la see things and then you think hmm. I could use that for the bake off she said monday As contestants baked their creations three times for the panel of judges. It s kind of like doing a poem you think it through and you just do it she said. Her qualifying recipe was a Coconut fudge Crescent tart. Other $2,000 winners in the refrigerated Crescent dinner Roll biscuit and pizza crust category were Marie Mickelson of Columbia Heights minn., and Gloria Pleasants of Williamsburg. A