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1974 inflation, recession dominate year in business
The 1974 economy faced inflation and a deep recession after the energy crisis, with profits uneven across sectors. Highlights include Fed margin cuts, energy and wage shifts, the oil embargo ending, and the largest bank failure in U.S. history as Franklin National Bank collapsed.
MENTIONED IN THIS ARTICLE
Robert Holden
NEW York (Ap
Federal Reserve Board
Nixon
William E. Simon
Treasury
Simon
Federal Energy Office
John C. Sawhill
Consolidated Edison Co
New York
Franklin National Bank of New York
Jamaica
Lockheed Aircraft Corp
Textron, Inc
Providence
New York Stock Exchange
European- American Bank and Trust Co
Pan American World Airways
Trans Work Airlines
Civil Aeronautics Board