Vigorous growth yet to produce inflation-Greenspan

Federal Reserve Chairman Alan Greenspan said on Wednesday 21 April in testimony titled "The economic outlook" that the U.S. economy is in a vigorous expansion' that has not yet produced broad-based' inflation pressures.

As I have noted previously, the federal funds rate must rise at some point to prevent pressures on price inflation from eventually emerging,'' Greenspan said in the text of testimony to the Joint Economic Committee of Congress. As yet, the p

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