Economic Growth Moderate Says Federal Reserve Report
WASHINGTON (AP) - The economy grew at a moderate, sustainable pace over the past three months, the Federal Reserve said in a report Wednesday which indicated the central bank may no longer feel the need to push interest rates higher.
The survey of economic conditions presented a picture of an economy that was slowing in line with efforts by the central bank over the past year to dampen demand by pushing interest rates higher.
Some economists have raised fears that the Fed's efforts to fight inflation by pushing interest rates up could topple the country into another recession.
But the Fed saw no evidence of a dangerous slowdown in any sector of the …
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Publication information: Article title: Economic Growth Moderate Says Federal Reserve Report. Contributors: Not available. Newspaper title: THE JOURNAL RECORD. Publication date: May 4, 1989. Page number: Not available. © 2009 THE JOURNAL RECORD. Provided by ProQuest LLC. All Rights Reserved.
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