FROM THE OFFICE OF PUBLIC AFFAIRS September 29, 1998RR-2718 The Administration respects the independence of the Federal Reserve in making decisions about the nation's monetary policy. We share the goal of solid economic growth with low inflation. Recent indicators suggest that the U.S. economy continues to enjoy moderate growth, low
unemployment and low inflation, despite the challenges posed by the recent international financial
turmoil. We believe that the U.S. economy will continue on this healthy course.
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