FED'S JOHNSON SEES INFLATION CONTROLLED
Federal Reserve Board Vice Chairman
Manuel Johnson said inflationary pressures are under control
and noted "wage and price pressures are very moderate."
    Johnson told a women's group that the U.S. was not seeing
the kind of cost pressures of the past.
    He said the trade imbalance was a serious trouble spot and
strong protectionist pressures, if translated into policies,
could ultimately lead to higher inflation and a high interest
rate policy by the Fed.
 Reuter
