In other words, the economy continues to show modest, non-inflationary growth.

There's always the danger that Fed policy will not lead to the result everyone wants to see, which is sustained non-inflationary growth.

To sustain non-inflationary growth will require a commitment to enhanced cooperation.

Higher productivity means the economy can sustain higher rates of non-inflationary growth.

Its sound management has provided a protective shield against the crisis and a platform for non-inflationary growth.

Cooperation between the two sides of industry seems essential in order to maintain a situation of non-inflationary growth.

If the goal is another long period of prosperous, non-inflationary growth, the answer is no mystery: tough it out.

But such stability requires each republic to hold to a tight regime of non-inflationary growth of its money supply.

While nothing would help more than faster, non-inflationary growth, the Federal Government can do more to ease adjustments.

These supply-side changes would improve the productive potential of the economy and should enhance the ability to reach higher levels of non-inflationary growth.

The objective is to achieve sustainable, non-inflationary growth.'

They agreed that the achievement of sustained non-inflationary growth and reduced trade imbalances remains a top priority of their economic policies.

The background of lower interest rates and a continuing reduction in underlying inflation provide what we most need - the opportunity for steady, sustainable, non-inflationary growth.

These objectives are concerned, among other things, with promoting sustainable and non-inflationary growth and a high level of employment and social protection.

"The economists always insist that we must have non-inflationary growth," he said, while he prefers to talk in terms of low-inflationary growth.

It "might be at a level that will promote continued non-inflationary growth," he told Congress, "especially considering the recent rise in the exchange value of the dollar."

The aim of this grander scheme was to enable policy-makers to combine stability in real exchange rates with steady, non-inflationary growth.

Fiscal, monetary and structural policies have been undertaken to foster the adjustment to more sustainable economic and financial positions in the context of non-inflationary growth.

As far as growth and employment are concerned, the G7 expressed its support for our strategy, designed to reestablish sustained, non-inflationary growth to create abundant new jobs.

Likewise, those countries with external surpluses were urged to contribute to external adjustment by promoting non-inflationary growth of domestic demand through appropriate macro-economic and structural policies.

Given the strength of M3 growth over the past few years, there is presently substantially more liquidity in the euro area than is needed to finance non-inflationary growth.

To raise the economy's capacity for sustainable, non-inflationary growth to 3.5 percent, therefore, would require nearly doubling the rate of productivity growth, to more than 2 percent, economists said.

"The U.K. equity market is likely to be buoyant over the coming months in anticipation of further base rate reductions and continued non-inflationary growth," the Salomon Brothers report said.

Mr. Greenspan has skillfully steered the economy along a path of non-inflationary growth by guiding monetary policy, no matter what he tells Congress, with an eye on employment as well as prices.

Countries with external surpluses, including Japan and Germany, should continue to pursue appropriate macroeconomic policies and structural reforms that will encourage non-inflationary growth of domestic demand and facilitate external adjustment.