Federal Reserves Semiannual Report On Monetary Policy 1994 Hearing Before Th
Federal Reserves Semiannual Report On Monetary Policy 1994 Hearing Before Th
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To quickly assess the difficulty of the text, read a short excerpt:
Parry. Is that it? Chairman Greenspan. That's correct. Senator Sarbanes. As I understand it, his view is that the natu- ral rate of unemployment is at 6V2 percent. I think he's made such a statement. I've been searching in my own mind for some way, if that's the view, to get him within the 6V2 percent of those that are unemployed. It's very easy if you're employed to have a very high natural rate of unemployment for the economy. Mr. Chairman, I want to pick up on your closing paragraph, the nex...t-to-last closing paragraph. There is some evidence to suggest that the stronger trend of pro- ductivity growth we've witnessed over the recent past is due, at least partly, to the beneficial effects of low rates of inflation. What evidence are you relying upon? Chairman GREENSPAN. I'm relying on two different types of evi- dence in this regard. 25 First, there is an extraordinarily large amount of anecdotal evi- dence in the marketplace, not only in this most recent period, but in my recollections over the years as an economic consultant, that when inflation is low, and there is considerable inability to pass through price increases, there is a considerable tendency on the part of American business to reduce costs.
What to read after Federal Reserves Semiannual Report On Monetary Policy 1994 Hearing Before Th?
You can find similar books in the "Read Also" column, or choose other free books by Housing United States Congress Senate Committee On Bank to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Parry. Is that it? Chairman Greenspan. That's correct. Senator Sarbanes. As I understand it, his view is that the natu- ral rate of unemployment is at 6V2 percent. I think he's made such a statement. I've been searching in my own mind for some way, if that's the view, to get him within the 6V2 percent of those that are unemployed. It's very easy if you're employed to have a very high natural rate of unemployment for the economy. Mr. Chairman, I want to pick up on your closing paragraph, the nex...t-to-last closing paragraph. There is some evidence to suggest that the stronger trend of pro- ductivity growth we've witnessed over the recent past is due, at least partly, to the beneficial effects of low rates of inflation. What evidence are you relying upon? Chairman GREENSPAN. I'm relying on two different types of evi- dence in this regard. 25 First, there is an extraordinarily large amount of anecdotal evi- dence in the marketplace, not only in this most recent period, but in my recollections over the years as an economic consultant, that when inflation is low, and there is considerable inability to pass through price increases, there is a considerable tendency on the part of American business to reduce costs.
What to read after Federal Reserves Semiannual Report On Monetary Policy 1994 Hearing Before Th?
You can find similar books in the "Read Also" column, or choose other free books by Housing United States Congress Senate Committee On Bank to read onlineMoreLess
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