Manchester Historical Society
2V - MANCHESTER HERALD, Tues.. Oct. 26 1982 BUSINESS Biz' Swensson vs. Jack fhompson Stocks soar a look at the race for the 13th in rally Economist: Another bummer in '83 . page 3 . page 20 But inflation, I hastened to point out, is now running a f recession that should persist throughout most of 1983, You know that old baseball war cry; — ’’Wait till next an annual rate of under 4 percent; further, the consen maintains Rinfret. year.” Well, as far as the U.S, economy goes, it’s not sus is that it’s under control. wait till next year — but wait tilt 1984. rilE ONLY REASON he’s allowing for an upturn That’s bull, responds Rinfret. The average American In other words, the 1983 economy’s going to be a late In the year is his assumption that Federal Reserve Sunny, mild Manchester, Conn. bummer. worker with a wife and two kids currently has the least chief Paul Volcker will almost certainly be replaced by buying power he’s had since 1964. In addition, he says, This provocative, contrary view — which if true would an “ easy money” man when his term expires next on Thursday Wednesday, Oct. 27, 1982 raise serious questions about the vigor of the stock the demand for capital goods is collapsing; yet, the August. Rinfret’s reasoning: To ensure Reagan’s re- producer price index for capital equipment is going up 8 market rally — is put forth by Pierre Rinfret, the election possibilities in 1984. — See page 2 Single copy 25c percent a year.
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