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Economy can grow minus inflation, Treasury secretary predicts.
Byline: Mark Skertic
CHICAGO _ The nation's economy is on a "strong, upward flight path" and should be able to grow without raising fears of inflation, U.S. Treasury Secretary John Snow said Friday.
Manufacturing and other business sectors have excess capacity, productivity is high and the cost of labor for each unit business produces remains low, Snow said in an address to bankers and economists at a Federal Reserve Bank of Chicago conference.
"That is not a picture that suggests unbridled inflationary forces," he said. "It's, rather, a picture that suggests to me you've got a lot of headwind for continued, noninflationary growth."
...
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Source: HighBeam Research, Economy can grow minus inflation, Treasury secretary predicts.