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But even as he was raising rates aggressively during that period to choke off budding inflation pressures, Mr. Greenspan began to notice two things: that inflation was not as strong as might have been anticipated, and that the growth rate of productivity, or output per hour, seemed to be increasing faster than was being captured in the official statistics.
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Coupled with high inflation and a budding market in black market dollars, the new economic realities have prompted those with cash to purchase everything from luxury cars to apartments to high-priced art to protect their money from devaluation.
Some budding".
A budding problem?
Budding what, sorry?
Have a budding Statto?
Many budding villains agree.
A budding art critic?
Journalist and budding francophone.
All budding journalists should.
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CEO of Professional Science Editing for Scientists @ prosciediting.com