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Federal Reserve Chairman Gives Speech to U.S. Economists.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, August, 2000 by Blanton, Kimberly
Aug. 26-- Has Alan Greenspan become a new-economy convert? The Federal Reserve chairman seemed to move deep into that camp yesterday in a speech given to an influential group of U.S. economists who met, as they do each August, in scenic Jackson Hole, Wyo.
Greenspan's comments held significance for monetary policy, Fed watchers said, because they indicated his strengthening conviction that a stunning surge in the productivity of U.S. workers will persist as a powerful check on inflation, ensuring that the longest-running expansion in U.S. history has no end in sight.
The swing in the chairman's views made some economists nervous that the Fed may even become too accommodating if his concerns about inflation lessen.
In simple terms, new-economy...
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