Speech by Fed governor Laurence H Meyer

SPEECH - Federal Reserve governor Laurence H. Meyer has given a speech before the New York Association for Business Economics and The Downtown Economists, New York on 6 June.

Extract

What Happened to the New Economy?

In 1995, the growth rate of the gross domestic product was close to the prevailing estimate of trend, the unemployment rate was close to the prevailing estimate of the non-accelerating inflation rate of unemployment (NAIRU), and inflation was modest. I am reviewing this bit of recen

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