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Inflation fears spark 1970 recession bets amid mixed forecasts
A Morgan Guaranty survey notes consumer apathy and expected inflation hurt spending, signaling possible 1970 weakness while American Motors projects near 9.5 million new car sales and Bethlehem Steel foresees steel use just below this year’s peaks. Congress passes tax reform with changes on equipment credits and oil depletion allowances as Nixon weighs Fed policy. The Air Force and Navy award major contracts, and weekly steel output slides.
MENTIONED IN THIS ARTICLE
Morgan Guaran
Edmund F. Martin
Bethlehem Steel Corp
Martin
Congress
Nixon