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Banking

May 07, 1994|From Times Staff and Wire Reports

Blinder Vows to Fight Inflation: In a confirmation hearing before the Senate Banking Committee, President Clinton's nominee for the No. 2 position at the sought to dispel suggestions that he would be soft on inflation. Alan S. Blinder, the nominee for Fed vice chairman and the first Democratic appointment to the central bank in 14 years, said a further rise in short-term interest rates would probably not roil financial markets as severely as earlier this year.

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