WASHINGTON - Despite some tough talk out of the Federal Reserve about containing inflation, the Clinton administration is insisting that the issue is a nonstarter and there is no need for the Fed to raise short-term interest rates.

In fact, Treasury Department officials believe the government reports earlier this year of rising inflation were technically flawed because of seasonal adjustment problems. They say the numbers will be much tamer as the rest of the year unfolds, erasing any case for Fed

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.