Chicago Fed's Moskow on the US economic outlook

In a speech on 'US economic outlook' given on 23 April, Michael Moskow of the Chicago Fed said the outlook for growth in 2004 is encouraging. A year ago, we were worried about unwelcome disinflation; that concern has now subsided.

But, Moskow concluded, "I do not see broad-based pressures developing that would lead to a significant increase in inflation. Moreover, our economy has begun to meet the challenge of the jobless recovery."

"Time and time again our economy has proven itself resilient in

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