Lincoln F. Anderson is the director of economic and sector research at Fidelity Investments in Boston. As such, he advises the firm as to U.S. industry performance and world economies, and evaluates policies and business practices. Prior to joining Fidelity, he was an economist and associate director at Bear Stearns & Co. in New York. While there, he provided investment advice to the bond and equity trading floors as well as to the company's institutional clients. Earlier, from 1982-86, he was a senior staff economist at the Council of Economic Advisers during the Reagan administration, and from 1976-82, he was a research economist at the Bureau of Economic Analysis.