David Greenlaw
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David Greenlaw Greenlaw
David Greenlaw, an economist at Morgan Stanley, said that when they were in an environment of pretty strong consumer demand and labor markets had tightened, they created the potential of some pass-through. He noted that the recent surge in oil and other energy prices was the biggest the nation had seen since the 1970's. Mr. Greenlaw and other economists said that the January figures were not completely reassuring because they were helped by one-time items like a 0.3 percent drop in doctor's fees, a rare and large decline that the government attributed to changes in the way Medicare reimburses physicians.