In 1989, President Bush can have faster growth without inflation.
This rate of expansion is considered by many to be the maximum that the nation can sustain without inflation.
To increase wages significantly without inflation would require a return to pre-1973 levels of real growth, which hasn't happened.
Unemployment is at a level that, a generation ago, would have been considered hard to achieve without significant inflation.
That has allowed the economy to grow and incomes to rise without much inflation.
"The economy is still growing at a pace that cannot be sustained in the long run without higher inflation," he said.
Now then, we have to increase productivity in these areas sufficiently to sustain economic growth without inflation.
At that time we needed additional revenue for fighting the war in Korea without inflation.
She sees the market becoming a little more relaxed about growth without inflation.
The purpose of taxation is to provide for government spending without inflation.