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Comments & Analysis: Greenspan's Day of Judgement


...The Economic Cycle Research Institute in Manhattan is a group of business cycle analyst formerly at Columbia University. There is little or no danger of an upturn in inflation, claims Mr. Anirvan Banerji, the institute's associate director. He dismisses wages as a lagging, rather than leading index of inflation and says all the signs point to subdued price increases for the foreseeable future. Their future inflation gauge is falling, rather than rising sharply as in early 1994, he says."