Burns Warns of Omens of Inflation Overtaking Recovery
Federal Reserve Chairman Arthur Burns warned Congress of very troublesome signs of a new inflation spike that could slow growth. He urged a target of zero inflation and noted wholesale prices rising about 9 percent in late 1975. Greenspan echoed the warning as danger to the economic recovery.
MENTIONED IN THIS ARTICLE
Washington
Arthur F. Burns
Federal Reserve Board
Congress
Burns
House Appropriations Committee
Ford Administration
Alan Greenspan
President’s Council of Economic Advisers
Joint Economic Committee of Congress
Greenspan
Ford
White Rose
Safest year on record for U.S. commercial aviation
The NTSB reports 1975 saw 42 airline accidents causing 124 deaths, the lowest fatality figure since 1957. Despite a rise in private plane accidents, overall commercial crashes declined for the 11th straight year, with Eastern Airlines 727 crash victims among the total.
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Chicago
U.S
National Transportation Safety Board
NTSB
Eastern Airlines
Kennedy —_ International Airport
New York
Federal Reserve Signals Cautious Path on Money Growth
The official outlined a course of moderation on credit and money growth for 1976, stressing restraint to avoid rekindling inflation. He also indicated openness to a one year public works program if feasible to start and end within that period.
MENTIONED IN THIS ARTICLE
Tion
Burns
Public gloom persists as recession fears loom in 1976
A Harris survey shows 79 percent believe the economy is in recession, 54 percent expect it to continue through 1976, and 72 percent report rising prices. Unemployment worries affect 53 percent, while only modest optimism exists about personal finances. Investors remain cautious, with low expected stock participation, contrasting with institutional market buoyancy.
MENTIONED IN THIS ARTICLE
Harris
Wall Street
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