State of the U.S. Economy
Committee members heard testimony from Chairman Greenspan in one of the regular hearings with him on the recent performance of the U.S. econ… read more
Committee members heard testimony from Chairman Greenspan in one of the regular hearings with him on the recent performance of the U.S. economy. He stated that the economy has done better than most analysts predicted, but warned that the Federal Reserve must be ready to combat inflation, which he expects to be caused by higher wages due to the low unemployment rate. He also stated that the Consumer Price Index generally overestimates inflation. He also answered several questions about his comments in a speech in December which caused large drops in stock markets around the world. close
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