Bill Clinton: “No. Based on the conversation I had with Chairman Greenspan last week, that's one of the things--or I guess earlier this…”

“No. Based on the conversation I had with Chairman Greenspan last week, that's one of the things--or I guess earlier this week--one of the things that he noted--Secretary Rubin and I were there--was that the normal inflation pressures, at least if you go back till the end of World War II, that you would see with this kind of job growth and by modern standards a low unemployment rate just have not materialized. And he speculated on a number of the reasons why that might be so. But I basically believe, as long as we're competitive, as long as our markets are open, as long as we're reaching out to new markets around the world, as long as we're seeing American workers continue to upgrade their skills and American businesses employ technology and better production techniques to improve their productivity, that we can keep this going without undue inflation. At least now there's no evidence of it. The only place we've had any spike in inflation is in energy prices, which was unrelated to the general growth in jobs. So I'm very hopeful right now. Federal Reserve Board Nominations”