It's Finally Perfect (At Least for Some)

Time's Economists Say Only The Fed can wreck the expansion

Picture the ideal U.S. economy. It would grow at a steady pace but not so fast as to ignite inflation. Unemployment would fall as companies created hundreds of thousands of new jobs every month. Banks would have plenty of cash and be eager to lend it. And, best of all, these happy conditions would last.

All this describes the American economy today, according to the consensus of a panel of five leading economists whom TIME assembled last week to assess the outlook through 1995. Their key finding: after nearly four years of growth that began at a crawl but has settled...

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