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Simon says inflation must leave gradually
Washington Treasury Secretary William E. Simon told Congress the economy needs slack for years to squeeze out inflation gradually and warned against speeding growth with deficits. He argued unemployment will taper off but warned there is no confidence in a rapid inflation battle. He cited projections of unemployment falling slowly through 1980 and noted past contractions. In Sacramento, California CHP reported speeding arrests rose 8 percent in 1974 to 1.1 million due to the 65 mph limit, up from 624,000.
MENTIONED IN THIS ARTICLE
Washington
UPI
Treasury
William E. Simon
Siman
Congress
Joint Economic Committee
Hubert H. Humphrey
D-Mina
Humphrey
Simon
Ford
Edward M. Kennedy
Dmags
Kennedy