Dr. Rubin of the Treasury sees low inflation and solid growth in the economy in 1999. Jeff
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RUBIN SEES SOLID U.S. GROWTH, LOW INFLAT. IN 1999
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Washington-Dec. 12-FWN--DESPITE TURMOIL IN ECONOMIES around the world, U.S. Treasury Secretary Robert Rubin said he still sees solid growth and low inflation for the United States in the coming year.
In a taped interview aired tonight on the CBS Evening News, Rubin said he remains optimistic on the U.S. economy as troubles seemingly mount for Japan, Russia and Brazil.
"In terms of the American economy, the U.S. economy, we have come through this very well so far as a whole, and I think that as we look out into the next year that the most likely scenario is still solid growth and low inflation," the Treasury secretary said.
However, the key to solving economic problems around the globe starts with Japan, he noted.
"Japan is an industrial country. It is the second- largest economy in the world. ...It is absolutely critical, in my judgment, for the economic well-being of the rest of the world that Japan get back on track," Rubin said.
Asked if the possible impeachment of President Clinton has undermined U.S. clout around the world, Rubin said world leaders look to Clinton as a leader on a broad range of economic issues, and he feels the President should not be impeached.
"I don't think that the President should be impeached. The President obviously made some terrible mistakes. He acknowledged those mistakes to the American public. He apologized for those mistakes, and I think we should get on with our business," Rubin said.
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