Bill Clinton: “Well, first of all, I think he has done a terrific job, and they will make their own judgments. But what I am doing is…”

“Well, first of all, I think he has done a terrific job, and they will make their own judgments. But what I am doing is designed--he testified in the Congress along these lines. Now I'm very gratified that the actual inflation rate is not high. It is true that we're finally getting some wage increases the last 2\1/2\ to 3 years for ordinary people, and they're getting ahead again after 20 years of falling behind. And I think that's good. But we--what--we should do everything we can, those of us with political responsibilities in the Government, to fight inflationary pressures so we continue to create jobs and raise incomes without inflation which will certainly raise interest rates. The market will raise them, whatever the Fed does, if we really have big inflation come back into the economy. So I'm doing my best to hold inflation down, and that's the signal that I want to send today. I never comment on the interest rate decisions of the Fed, and I don't want to start now. I think that we have had an independent policy, but our policies have reinforced one another, which is to have growth and jobs without inflation. And that's what I think we should do. Thank you very much. End of the Fiscal Year”