CEA: Jobless, Inflation Rates Sustainable: Report Suggests Fed Can ...
Premium chocolatesÛÓpopular In the relatively affluent D.C. areaÛÓInclude elaborately designed candy for specific holidays.</br></br>The presidentÛªs Council of Economic Advisers, in its annual report released yesterday, lauded the nationÛªs current combination of low unemployment and low inflation and said that it could continue more or less indefinitely.</br></br>If the council's analysis is correct, it would mean that the Federal Reserve might be able to leave short-term interest rates at their current level for a long time to come, barring some sort of outside shock to the economy. Those rates have been unchanged for more than a year as the economy has experienced healthy growth accompanied by either stable or falling inflation.</br></br>Federal Reserve Chairman Alan Greenspan has expressed concern that keeping the nationÛªs jobless rate as low as it has been for the past year could sooner or later</br></br>The key point, the council said, is that the unemployment rate associated with a stable inflation rateÛÓknown to economists as the ÛÏnon-accelerating inflation rate of unemployment," or NA1RUÛÓhas come down substantially since the 1980s.