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Economic forecasts diverge as recession risk debated
Economists clash on whether a recession looms as Milton Friedman warns of downturn while Rinfret predicts record growth. Stans sees no recession but tight money hurts big business. Fed members Maisel and Robertson push for cautious balance between inflation and growth amid weak November retail data and Ford forecasts softer 1970 auto sales.
MENTIONED IN THIS ARTICLE
Rinfret
Milton Friedman
University of Chicago
Maurice H. Stans
Nixon
Investment Bankers of America
Federal Reserve Board
Sherman J. Maisel
Fed
J .L. Robertson
Commerce Department