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U S Economy Seen Upturn by IEE Advisers
President Eisenhower's economic advisers say the U S economy has swung upward from recession lows with gross national product in the April June quarter at an annual rate of 428 billion dollars up from 425 8 billion and beneath last summer's 445 6 billion peak. Government purchases rose and consumer durables declined less, signaling firmer conditions despite inventory drawdown. Prof. Harris warned federal fiscal policy pulls in opposite directions between money cheapening by the Fed and Treasury actions, noting a recession with inflation.
MENTIONED IN THIS ARTICLE
Washington
Eisenhower
Separte
Commerce Department
Senate House
Council of Advisers
Seymour Harris
Harvard University
House
Harris
Federal Reserve
Treasury
White House