McTeer on the banking industry

- Central Banking staff
- 04 Feb 2003

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SPEECH - In a speech to the Cato Institute 20th Annual Monetary Conference Bob McTeer of the Federal Reserve Bank of Dallas said the U.S. now has a low inflation rate, close to that of the euro zone. But that the US unemployment rate has been only half as high as Europe in recent years. That is stability through competition and allowing creative destruction to work and not be bottled up to explode later, he said. Our greater stability in labor markets, compared to Europe, comes from creative

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