Political Quotes

“Interest rates have gone down, although they are now starting to rise again as a consequence of recent actions taken by the Federal Reserve Board. Economic growth is up. Indeed, economic growth was so rapid in the last quarter of last year that the Federal Reserve Board took action to increase interest rates to restrain the rate of growth so as not to ignite a new round of inflation. I want to make absolutely clear that I have not misspoken with respect to that. So I wanted to clarify my remarks and make clear that, following passage of the budget, interest rates went down, bottoming in the months following the passage of the budget last year, have since begun to rise again, and are now at a level that is slightly higher than they were at the time that the budget was adopted. My remarks are ambiguous as to that point and I wanted to make that clear so there can be no misunderstanding.”