Two top economists say US interest rates to rise

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Short-term US interest rates are likely to rise in the coming months as the recovery gathers steam and the Federal Reserve Board continues gradual tightening of monetary policy, two top economists said.

Wall Street economist Henry Kaufman said rates have been rising for the past months because of the unexpected strength of the US recovery and actions by the Fed to curb excessive money-supply growth. Economist Alan Greenspan, a key adviser to President Reagan, expressed a similar view, but argued that even a 2 -point increase in interest rates would not significantly affect the strength of the recovery.

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