...national income accounts, which are available through the first quarter. So far this year, Mr. Chairman, our economy has continued to enjoy a virtuous cycle....values have provided impetus to spending and, in turn, expansion of output, employment, and productivityenhancing capital investment. The essential precondition...

...inflation and generally supportive credit conditions, rising equity values are providing impetus for spending and, in turn, the expansion of output, employment,...and productivityenhancing capital investment. The hopes for accelerated productivity growth have been bolstering expectations of future corporate earnings...

...years, while imports of goods and services had continued to rise very rapidly. These develop‘Our economy has continued to enjoy a virtuous cycle. Evidence...fueling still further increases in equity values ... and rising equity values have provided impetus to spending and, in turn, the expansion of output, employment,...

...four years, while imports of goods and services had continued to rise very rapidly. These develop¿ ‘Our economy has continued to enjoy a virtuous cycle....fueling still further increases in equity values ... and rising equity values have provided impetus to spending and, in turn, the expansion of output, employment,...

...in July 1998, he spoke before the Joint Economic Committee of the US Congress of a "virtuous cycle": "Our economy has continued to enjoy a virtuous cycle....expectations of future corporate earnings, thereby fuelling still further increases in equity values . . . and rising equity values have provided impetus...

...expectations of future corporate earnings, thereby fuelling still further increases in equity values . . . and rising equity values have provided impetus to spending...in turn, the expansion of output, employment, and productivity enhancing capital investment." The virtuous cycle arouses the association with the vicious...