http://www.nytimes.com/2002/12/11/business/11FED.html No Change in Interest Rates By EDMUND L. ANDREWS [clip]
"The problem is that businesses have not been reacting much to the low interest rates. Manufacturing has been contracting for the last several months, prices for a wide range of goods are declining and businesses are bent on squeezing more productivity out of fewer workers.
Mr. Greenspan and other top Fed officials are openly concerned about the possibility of Japanese-style deflation...."
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