Reading the economics stories in the newspapers these days can be baffling. On one hand, headlines tell us that the Clinton Administration is beavering away at putting people to work: jobs programs, job-training programs, welfare- reform programs that require recipients to take a job. And, indeed, the Administration brags that it is ahead of schedule on Clinton's promise to add 8 million new jobs by the end of his first term.
On the other hand, headlines -- sometimes in the same day's newspaper -- tell us that the Federal Reserve is raising interest rates out of fear that the economy is...
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