Word: inflationitis
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Dates: during 1960-1969
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Their frustration is likely to increase during the winter and spring. The economy is at a new and potentially dangerous turning point; inflation is hanging on, but the pace of business is slowing down. Government economists fear that in the early months of 1970, unemployment and prices will be rising...
FOR all its emotional impact on the nation, the Viet Nam war does not provoke the most widespread dissatisfaction with President Nixon's policies. Almost to a man, U.S. citizens feel frustrated by the persistence of inflation and its pervasive effects-high prices, oppressive interest rates and a severe...
STRIKES. The current walkout by 147,000 General Electric workers is only a foretaste of the acrimonious labor struggles that loom in the immediate future. Next year will be clotted with labor negotiations. Contracts covering some 4,000,000 workers in such basic industries as railroads, trucking, autos, construction, rubber...
Keep Them Guessing. The ultimate decision will be left to William McChesney Martin, the outgoing Federal Reserve chairman, who has a reason to favor continued stringency. Twice since 1966, Martin's board has made major errors in expanding the money supply too much and too soon. The Fed committed...
One ominous question is whether inflationary psychology has become so pervasive that it can be cured only by a rattling recession. The public realizes that the people who bet on inflation in past years have been rewarded, while those who pursued prudence have been punished. The businessman who raised his...