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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (37555)	3/27/2001 3:55:24 PM
From: IQBAL LATIF	Respond to of 50167

<<Greenspan noted that one of the most important insights from modeling has been the discovery that ``monetary policy could not permanently influence the level of the unemployment rate.'' >> Four years back somewhere on this thread you will find the reference to death of the 'phillip curve' or 'interest rate unemployment relationship'... good that AG recognises that now..It was his worry about wage pressures as a result of falling unemployment that kept him to this tight monetary policy far too long..