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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Wyätt Gwyön who wrote (4372)	4/15/2004 9:23:12 AM
From: mishedlo	Read Replies (3) of 116555

Snow Unconcerned about Inflation Snow says US economy has much leeway for non-inflationary growth Thursday, April 15, 2004 2:06:01 PM US Treasury Secretary John Snow said he is "not particularly concerned" by the current level of inflation Speaking on CNBC, Snow said the US economy still has "lots of latitude to grow and develop in a non-inflationary manner." He declined to make any comment on a possible interest rate increase by the Federal Reserve following recent signs that inflation is picking up in the US He said yesterday's inflation figures showed a moderate increase in prices, and pointed out that inflation rates are at their lowest for 40-45 years The Labor Department revealed a 0.5 pct CPI rise in March yesterday, with the core rate up 0.4 pct, compared with consensus forecasts for a 0.3 pct rise and for a rise in the core rate of 0.2 pct Snow added that manufacturers still have surplus capacity, with a good deal of competitiveness, which means few companies have room to manoeuvre when it comes to price increases

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