U.S. Economy

Dr. Laura Tyson, Chair of the Council of Economic Advisers, briefed the media and took questions today on the advanced report on Gross… read more

Dr. Laura Tyson, Chair of the Council of Economic Advisers, briefed the media and took questions today on the advanced report on Gross Domestic Product for the first quarter of 1994. Tyson said the report confirms that the underlying fundamentals of the economy are sound, taking into account special factors that have caused the quarterly GDP numbers to fluctuate a bit. The evidence indicates that growth continues to be solid, and inflation continues to be modest. In addition, the report shows that strength in private sector spending is the driving force behind the economy’s expansion. Federal government spending continues to decline as a result of the administration’s deficit reduction plan. Tyson said that today’s report should “calm fears” that the economy is growing at an unsustainably rapid rate, or fears that inflation is about to spike upwards. Tyson explained that the numbers indicate the economy remains on track for growth of about 3 percent this year; for creation of about 2 million new jobs this year; and for an inflation rate of about 3 percent for the year. close

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U.S. Economy

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Program ID:
56450-1
Category:
White House Event
Format:
News Conference
Location:
Washington, District of Columbia, United States
First Aired:
Apr 28, 1994
Last Aired:
Apr 29, 1994

Airing Details

  • Apr 28, 1994 | 6:36pm EDT | C-SPAN 2
  • Apr 29, 1994 | 12:22am EDT | C-SPAN 2
  • Apr 29, 1994 | 9:31am EDT | C-SPAN 1
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