WHITE HOUSE SAYS U.S. MONETARY POLICY CORRECT
The White House,
distancing itself from remarks by the administration's budget
chief, said the Federal Reserve's current course of monetary
policy was appropriate.
    "The administration feels that the current course of
monetary policy is appropriate," White House spokesman Marlin
Fitwater said.
    Fitzwater said the administration did not endorse remarks
by White House budget chief James Miller, who said he was
concerned the Federal Reserve might overreact to the decline in
the value of the U.S. dollar by raising interest rates.
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