Word: greenspans
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Dates: during 1990-1999
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...Greenspan's supporters see real signs of incipient inflation: recent rises in sensitive commodity prices; delays in deliveries of goods, which suggest tightening supplies that might enable some sellers to make price increases stick. Such pressures will abate, they think, if the Fed makes clear that it will raise interest rates enough to deprive inflation of the tinder of cheap loans. A few economists are worried that the Fed already has pumped too much money and credit into the economy. In their view, Greenspan should have raised interest rates earlier and more sharply than...
...Will higher rates kill the recovery? On the contrary, says Greenspan, they will prolong it. Small increases now will prevent inflation without hurting what increasingly looks to be a sturdy economy. Holding off would allow inflation to blossom eventually and force much bigger interest-rate increases that really would stop growth. But others contend that low rates are the biggest reason why a disappointingly slow recovery has finally quickened into a promising advance. Raising borrowing costs now, they fear, will choke off the budding boom, in part by making purchases of such things as houses and cars harder to finance...
...test by further Fed moves. The Clinton Administration, though dedicated to low interest rates, hopes that the rate increases will extend the recovery right into the fall of 1996; it merely expresses hope that the Fed will not raise rates too much. As Roth told Greenspan, "I think all of us in Congress realize that you have more power over the economy than we do." And more than the President...
...Alan Greenspan vows to defeat price rises, present and future...
...length, he has made sense of the secret sale of arms to Iran, the Los Angeles riots and the Reagan-era U.S. military buildup, among other subjects. So varied is his repertoire that this week's issue also includes his one-page story on Federal Reserve Board Chairman Alan Greenspan...