Manchester Historical Society, and Others.)
Supntng ibralh MANCHESTER, CONN., TUESDAY, MAY 28, 1974 - VOL. X a il, No. 202 Manchester—A City of Village Charm TWENTY.FOUR PAGES PRICE: FIFTEEN CENTS Inflation Perils Cited By President WASHINGTON (UPI) - President three member Council of Economic Ad In the same speech he reported “en Nixon said today Americans’ cost of living visers. The CEA said the nation would couraging signs” that “the worst is behind could rise even faster in the months ahead probably escape a recession this year but us” with respect to inflation and other if they “do not firmly resist temptations to that heavy inflation overseas posed new economic problems. new inflationary policy.” ' problems for the recovery of the economy. The next day, Arthur Burns, chairman In a message to Congress, Nixon said The President had announced in a of the Federal Reserve Board, took a less the chief dangers to a renewed in weekend radio address that he was asking optimistic view, telling a commencement flationary demands by labor for higher Congress for a cost of living task force to audience at Illinois College, Jacksonville, wages and by business for higher prices, keep watch on Inflation. 111., “If past experience is any guide, the plus pressure in Congress for more federal In his Saturday speech Nixon described future of our country is in jeopardy. No spending and a cut in personal income the task force as a “small, flexible country I know of has been able to main taxes. organization within the executive office,” tain widespread economic prosperity once which would “monitor wages, prices, in inflation got out of hand.” Nixon’s warning prefaced a midyear dustry bottlenecks, supply shortages and Asked about it Monday, presidential report on the health of the economy by his other factors that bear on inflation.” Press Secretary Ronald L.
[Show full text]