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Politics : Ask Michael Burke
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To: Mike M2 who wrote (71379)12/3/1999 5:53:00 PM
From: BGR  Read Replies (2) of 132070
 
Mike,

And how do you measure (please, note the emphasis) the needs of economic activity? Obviously, NAIRU is not a very accurate measure, as is clear from the contrast in the EU (high inflation and unemployment) and US (both low) experience. My position is that it is not a well understood concept so the present Fed is right in experimenting.

-BGR.
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