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These seemingly decisive rejections of Reagan's foreign policy, however, coexist with a widespread public attitude that the Soviet Union's military objectives are "offensive" as opposed to "defensive" (61% to 29%). More important, a new "volatility index" devised by the Yankelovich organization, which has been tested in previous polls, indicates that these opinions are easily subject to change. In addition to asking voters whether they favored or opposed a given proposition, the Yankelovich pollsters inquired how often voters discussed the issue, how deeply they felt it affected them, how easily they could change their minds and whether...
...specter of double-digit inflation is fading fast. Indeed, the Consumer Price Index., which was bounding up at a 14% annual rate as recently as last September, rose at a mere 3.7% pace in January. Economists now freely predict that the February figure, to be announced this week, will show an equal or even more modest increase. A few are timidly speculating that it might actually drop for the first time in 16 years...
...Three indexes of producer (wholesale) prices-for finished goods, partly processed materials and raw commodities-really did fall in February, the first time that all went down simultaneously since February 1975. Moreover, the slowdown has been going on long enough that it cannot be dismissed as a fluke. The Producer Price Index for finished goods, those ready to be stocked on store shelves, has been declining fairly steadily and significantly since January...
...main categories: boosting the federal excise tax on retail gasoline sales, now at 4? per gal., and enacting an import surcharge on foreign oil. Increasing retail gasoline prices would surely help to hold down consumption of automotive fuel, but since gasoline is an important component in the Consumer Price Index, the tax would also translate directly into more inflation. Worse, the levy would do little to boost production of domestic crude oil and have no effect at all on discouraging foreign imports...
...signs that had given hope for an early recovery from recession have disappeared. The Government initially reported small rises in retail sales and in the index of leading indicators for December. Rechecking the figures, it now finds that it was wrong. Both went down in December...