11.   But he cautioned that inflation dangers still exist and put financial markets on notice to expect further interest rate increases.

12.   Fed Chairman Alan Greenspan said Thursday that inflation dangers are lurking.

13.   In a statement explaining its decision Wednesday, the Fed said increased energy prices still raise inflation dangers down the road.

14.   It has been this big improvement in productivity that has allowed the Fed to be less worried about inflation dangers.

15.   Still, economists believed the Fed will issue a statement that continues to tell markets that it is still worried about inflation dangers down the road.

16.   The Fed noted that the labor markets remain tight and the high energy prices pose a risk of raising inflation dangers.

17.   Meanwhile Bundesbank vice-president Johann Wilhelm Gaddum said in an interview that Germany is not facing any serious inflation dangers that could force a rise in interest rates.