TITLE

Hidden Costs

AUTHOR(S)
Scheiber, Noam
PUB. DATE
July 2004
SOURCE
New Republic;7/5/2004, Vol. 231 Issue 1/2, p14
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
Argues that the Federal Reserve's confidence in its current inflation outlook is misguided. Senate Banking Committee, which praised Alan Greenspan at his reconfirmation hearing despite his view that inflation is not a serious concern; Annual rate of inflation at five percent this year; Need to raise interest rates rapidly, because inflation is inertial; Possibility that if inflation rises to 6 or 7 percent, a rise in interest rates could create a recession.
ACCESSION #
13577813

 

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