, journalists and many academics viewed the low rate of unemployment as an indication that rising inflation was near on the horizon … ?natural? rate, that inflation would accelerate. However, the rate of unemployment continued to fall throughout the 1990?s and … yet rising inflation never emerged. This led economists to reconsider whether this ?threshold? unemployment rate, termed …

Last month marked the eleventh year of the Greenspan Fed. During this period, the Fed has achieved low inflation rates … not seen since the decade before the Vietnam War. This relatively stable and low inflation environment enabled the economy … different this period is relative to the decade of the 70?s, which started with both single digit inflation and unemployment …

subtract moderately from growth in 1998, but will not sidetrack the expansion. Inflation remains low and inflationary … must continue to pursue its long-run objective of zero inflation, and avoid committing monetary policy mistakes by …

the past ten years to generate a pattern of world wide inflation. The experiences made since our first meeting in … peace inflation observed in the U.S.A., followed by a substantial downswing in economic activity in 1974/75. …

inflation. The Committee's concern was motivated by the repeated failures of our policymaking in 1967,1970 and again in 1972 … unleashed a new wave of inflation. From an inflation level below 4% p.a. in the spring of 1972 price movements accelerated to a … repeated for the fourth time in 1976/77. Inflation had been lowered to 4.5% p.a. in the second half of 1976 as a result of the …

future welfare (real income per capita) but offered otherwise no relevant specific action designed to lower inflation or to … concerning the nature of the inflation problem. The program submitted to the public's attention offered in particular no useful … major component in a program addressed to lower the rate of inflation. …

should average 2 1/2% and inflation should be in the 7% vicinity by 1984. Real growth could be rising by 3 1/2% by 1984 with … inflation under 5% if the program is augmented by even further reduction in tax rates and government spending, as well as by a …

Since the election of President Reagan in November 1980, the inflation rate has declined from the 10-11% area to about … 8% in response to monetary restraint and slack in the economy. Despite many forecasts that inflation will continue to … in nominal rates reflects a rise in real rates or expectations that inflation will reaccelerate, economists both outside …

Adopting a restrictive policy to reduce inflation and being willing to stick with it even in a long and deep recession … is not evidence that it will be successful. The test of whether a long-run anti-inflation policy will be maintained does …

main industrial countries, which many observers expected to be weak and/or threatened by a possible resurgence of inflation …. Several indicators suggest that a spontaneous upturn may be expected now that inflation has declined much more rapidly than …