Word: slowdown
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These indicators raised expectations that the long-predicted economic slowdown would at last materialize early next year. If it does, says Economist Arthur Burns, Eisenhower's former chief economic adviser and now a key Nixon man, some sort of surtax reduction will be possible. On the other hand, a tax reduction could well touch off a new round of inflation. With the inflation threat obviously in mind, Pierre Rinfret, Manhattan economic consultant and another Nixon adviser, conceded in London last week that Nixon might conceivably have to retain the surcharge, or even raise taxes. "I don't think...
...they sold. Among exports, chemicals and transportation equipment (notably jet aircraft) have increased substantially, and recently foreign orders for durable goods have picked up. The threat of a mid-December dock strike has prompted many U.S. exporters to ship early. For the longer run, Washington is counting on a slowdown in domestic inflation, combined with an expansion of Western Europe's economy, to lift overseas demand still further...
...with five of his men. For all their noisy speeches, they could not persuade the spectators to turn against the police. As a benevolent Fink looked on, the rally soon fizzled out. Even when 20% of Fink's men called in sick during New York's police slowdown, East Village dissidents remained quiet-though the yippies gleefully passed out flyers thanking the cops for "a welcome example of disruption...
...take. At a Hot Springs, Va., meeting of the Business Council, a group of corporate executives who generally support the Johnson Administration's policies, there were plenty of questions about what the next president might have to do. The consensus of 20 council economists was that an economic slowdown next year, however temporary, would tempt a new Administration to ease off on the brakes prematurely. The result might be more inflation, followed by a "major recession" in late 1970 and early...
...joblessness at a minimum; Nixon vows to fight inflation "without increasing unemployment." In Washington, Chief White House Economic Adviser Arthur Okun took exception to the view that braking measures would have to be continued for very long. Inflation, he warned, might be less of a hazard than a prolonged slowdown, which could bring on "a stall and perhaps a tailspin...