Word: inflationaryâ
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...this hullabaloo, the increases in interest rates that the Federal Reserve has forced have so far failed to check the growth of the money supply. In October the nation's money stock grew at an average annual rate estimated at 12%. That pace, if continued, could indeed be inflationary???yet the White House fears still higher interest would damage the recovery. That creates a nasty dilemma that will probably persist for some time...
There is no all-embracing solution, at any price, for the complex malaise of the underclass. It would be more realistic?and much less inflationary???to press for a mix of endeavors, in which the Government would reorder some social spending and new efforts would be made by private business and by members of the underclass themselves...
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