Word: solloway
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Dates: during 1980-1989
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Though the week-to-week figures have been encouraging, the underlying distortions and weaknesses in the economy have, if anything, grown worse in the course of the 1980 downturn. Says James Solloway of the Argus Research Corp., a private economic study group: "We got through the recession without solving any of the big problems. We still have very high inflation, very volatile money markets, lagging productivity and very deeply entrenched inflationary expectations." What is more, economists now fear that the recovery could fizzle out altogether in early 1981, sending the economy stumbling back into recession all over again, no matter...