Atlanta's Guynn on importance of price stability

In a speech on 'The importance of price stability' given on 23 February, Jack Guynn of the Federal Reserve Bank of Atlanta said he expects the national economy to grow by 3 per cent to 4 per cent in 2005, but policymakers need to keep a close eye on inflation.

Guynn noted that gross domestic product grew 4.4 per cent last year, virtually the same as the 4.5 per cent growth in GDP in the late 1990s.

He also said employment has also picked up in recent quarters.

"I think we can stop talking about

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