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Economists foresee a business slowdown and lower profits
Economists and financial leaders warn of a coming business slowdown driven by tight credit and anticipated slower profits. Key figures in the CEA and White House urge continued restraint on inflation, with forecasts of a weaker second half and possible recession later in the year. The Fed is expected to keep a tight-money stance until demand signals improve.
MENTIONED IN THIS ARTICLE
Prudental
John Hancock
National Association of Dealers
Securiies
M Mutual
New York
Verry
Arthur Burns
Richard Nixon
White House
Paul McCracken
President's Council of Economic Advisers
CEA
Raymond Saulnier
Hisenhower
Fed
Arthur Okun
Johnson
Federal Reserve
Louis Harris
Harris
U. S
Europe
Nixon
Vietnam