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Doubting Greenspan's view of U.S. labor market.(Originated from KRT FORUM)
By David H. Resler
Bridge News
NEW YORK _ The testimony of Federal Reserve Board Chairman Alan Greenspan before the Senate Budget Committee last week provided ``some personal perspectives.''
Though other Fed officials will soon contribute their own particular perspectives to policy debate, Mr. Greenspan's views are undoubtedly representative of the consensus.
Mr. Greenspan offered an upbeat, but nonetheless realistic, appraisal of the economy's performance. While noting that the growth in real output during the current expansion ``may seem quite moderate'' compared with past expansions, it has been sufficiently strong to move the economy close to full-employment.
Appropriately, Mr. Greenspan credited the quiescent inflation environment for the more stable pace of growth during the current expansion. Indeed, the distinguishing feature of the current expansion is that there has been little evidence of the ``inflationary tensions that have disrupted…
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Source: HighBeam Research, Doubting Greenspan's view of U.S. labor market.(Originated from KRT...
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