Frank Lautenberg: “I support the nomination of Alan Greenspan to be Chairman of the Federal Reserve in his next term because I think what…”

“I support the nomination of Alan Greenspan to be Chairman of the Federal Reserve in his next term because I think what we have is pretty darned good when you look at the results, and we see indications of it every day, about how good this economy is relative to where we might have been in terms of measuring the economic growth and inflation at the same time. Inflation is under control. It does not take much, in this former businessman's view, to trigger off a round of inflationary growth that we would not like to see in this country of ours. When I see in today's papers, the Washington Post: Labor shortage may be slowing economy, not enough people applying for jobs, bonuses being offered to get people to apply for jobs. It does not say that we are overburdened by unemployment. Any unemployment is terrible in a society. But when you compare what is happening in the United States to, now, the European market, we are almost less than half of where they are. And inflation is very carefully controlled.”