Word: inflationitis
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Dates: during 1960-1969
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For Lyndon Johnson, the time had finally come to do something positive about inflation and tight money. Though faced by rising wages and prices, mounting shortages of workers and materials, and a steadily increasing scarcity of money, the President had for months refrained from taking any major action in the...
Some of Johnson's critics charged that he should have acted much sooner; many did not like the action that he finally took. But almost everyone felt a sense of relief that the President, who of late has tended to let decisions pile up a bit, had at least...
Lyndon Johnson's anti-inflation package unveiled last week (see THE NATION) received a mixed reaction among the businessmen whom it will immediately affect. Most were relieved that the President had finally taken some kind of action to cool the economy. But they also felt that, in an election...
Ordinarily, talk about higher taxes is not very cheery. But U.S. stock and bond investors last week seemed to brighten up just when word got out that the Johnson Administration was seriously considering tax increases as an adjunct to tight money in the fight against inflation. Both stock and bond...
Still, in spite of direct government intervention, not all the sprawl appeared to be reconnected. Before the workers walked out, two federal conciliation boards had recommended an 18% wage increase, 8% of it payable this year and 10% more next year. Summoning Parliament to debate the crisis, Prime Minister Lester...