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Saturday, Aug. 29, 1998
Business Briefs
Fed's Greenspan stresses need to control inflation
From Staff Writer wire services
Closing the gap between America's rich and poor starts with keeping inflation under control, Federal Reserve Chairman Alan Greenspan said Friday.
There must be stable prices contributing to long-term economic growth in order to ``lift living standards as broadly as possible,'' Greenspan told a gathering of Federal Reserve officials in Jackson Hole, Wyo.
Greenspan cited Fed statistics showing that a gap in wealth between the rich and poor has persisted throughout the nation's booming economic growth in the 1990s.
For example, although lower-income households are more likely to be stock-market investors today than a decade ago, Greenspan said, the share of stock and mutual fund assets owned by the poorest 90 percent of families did not rise between 1992 and 1995.
Number of oil, gas rigs in U.S. increases by 19
HOUSTON - The number of oil and gas rigs operating nationwide rose by 19 to 790 this week, Baker Hughes Inc. said Friday.
Of the rigs running this week, 568 were exploring for natural gas and 221 for oil. One was listed as miscellaneous.
Of the major oil- and gas-producing states, Oklahoma increased by 10, New Mexico by seven, Alaska three, Wyoming two and Louisiana by one. California was down two. Texas was unchanged.Post your comments about local news eventsFront Page || Main Index || News || Business || Texas || South Texas Outdoors || Birdwatching || Sports || Entertainment || Selena || Education || South Texas Attractions || World Wide Web