Word: inflationitis
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Dates: during 1960-1969
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The exercise had a this-is-a-recording tone, but the White House sent in the first economics team anyway: Treasury Secretary Henry Fowler, Budget Director Charles Schultze, Federal Reserve Chairman William McChesney Martin and Chairman Gardner Ackley of the Council of Economic Advisers. For two days, the witnesses piled...
Record Quarter. Ackley said that during the last two months of 1967 the economy had spurted ahead all too quickly. The rise in wholesale industrial prices, which was less than 1% in the first half of last year, went up to 2.5% in the second half, while the rate of...
Increasingly, "crime in the streets"-an omnibus label encompassing all the wellsprings of urban unrest from ghetto riots to muggings in middle-class neighborhoods-looms, with the possible exception of Viet Nam, as the nation's prime preoccupation in Election Year 1968. Predicted Vice President Hubert Humphrey: "Safe streets...
The House meanwhile marked time with procedural matters, awaiting the next round of the tax fight. Ways and Means Chairman Mills has consented to new hearings this week on the Administration's proposal for a surcharge, but the outlook for passage remains bleak. Even if Mills relents in his...
Although it has no plans to sell fund shares, Prudential, the nation's biggest life-insurance company, is considering making available variable annuities, which are presently sold only through group-pension plans, to individuals as well. Unlike the ordinary annuity, an in vestment that pays off in regular fixed...