WASHINGTON - The United States and other industrial nations are close to achieving a stable price environment in which businesses and households can make economic decisions without fear of inflation, Federal Reserve Board Chairman Alan Greenspan said yesterday.

"The true underlying rate of inflation in today's world may not be far from what I would call price stability," Greenspan said in a speech, to bankers in Tokyo during a four-day visit to meet with Japanese finance officials. Fed officials released the text of the speech.

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