Word: inflationitis
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Dates: during 1960-1969
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Nixon, of course, can revise the proposed budget. Though he and President Johnson conferred by telephone for 40 minutes shortly before Johnson gave his State of the Union speech, Nixon is only tentatively committed to extending the 10% income surtax for another year. Because Nixon is pledged to halt inflation...
In response to Washington's battle against inflation, the cost of borrowing from U.S. banks last week climbed to a historic high. For the third time in six weeks, major banks raised their prime rate, the interest that they charge their best corporate customers for loans. The latest increase...
The Federal Reserve is likely to maintain such pressure until it stifles the inflationary psychology that has gripped investors, businessmen and consumers. "We have to knock out the notion that inflation is a built-in way of life," says Daniel H. Brill, senior adviser to the board. The faster businessmen...
Inflationary Engine. "Over the past years, the Federal Reserve has been an engine of inflation," complains Friedman. "Inflation is always and everywhere a monetary phenomenon, produced in the first instance by an unduly rapid growth in the quantity of money. I've sat in many a meeting with the...
Still, the stock market's major concern is how fast the Federal Reserve will tighten up the money supply in its campaign to squelch the pressures and psychology of inflation. Rising taxes will make the battle easier and will siphon funds away from investors. On Jan. 1, Social Security...