Summary of Testimony
The monetary policy report begins discussing the first half of 1996. The review stated that the first half had been went better than it was expected to go. In addition, the review stated that GDP went up by 2 ¼ and that industrial production rose by 5 1/2., and that manufacturers were running above postwar averages. Also, a topic that was discussed in the beginning and in most of the report was inflation. In report affirmed that inflation had been inactive. Overall in the first half of 1996, things looked good for the economy. …
