Word: terminterest
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...Clinton Administration officialsaid the White House expects the economy to continue to grow at a solid pace,with only moderate inflation. Addressing the annual convention of the AmericanBankers Association in New York on Monday, National Economic Council ChairmanRobert Rubin also noted, however, that such growth could mean higher long-terminterest rates -- and that's not good news for consumers. Though Rubin declinedto give a projection on the fate of the budget deficit for the 1994 fiscalyear, which concluded at the end of September, he said the gap would be "downsubstantially" from last year...
However, to meet the targets leading to abalanced budget, the administration assumed anoptimistic four percent growth in the economy overfour of the next five years, with short-terminterest rates dropping to four percent andinflation to around two percent--projections notshared by most private economists...
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