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To: Bobby Yellin who wrote (14544)	7/16/1998 5:04:00 PM
From: Bucky Katt	Respond to of 116982

Inflation worries Chicago Fed's Moskow, not growth>>> CHICAGO, July 16 (Reuters) - The threat of rising inflation is a bigger worry right now than the danger of a U.S. economic slowdown, Federal Reserve Bank of Chicago President Michael Moskow said on Thursday. ''I am more concerned about the potential for acceleration in inflation,'' said Moskow, in response to a reporter's question after a speech to a journalists conference here. Moskow, who earlier noted that rising medical care costs had so far not fueled broader U.S. inflation, declined to specify which economic indicators gave the best clues on inflation. ''As you know, we look at many, many indicators,'' Moskow said. If oil has a prolonged spike, which I expect over the next 24 months, everything will change.