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Newspaper
Independent
Location
Long Beach, California, United States of America
Date
Jul 01, 1976
Page
6
Federal Reserve Chair Arthur Burns told Congress that the economy should pick up speed and unemployment falling from 7.3 percent to just under 7 by year end and about 6.5 by mid-1977. He warned inflation remains a major problem but could be reduced to 4 percent next year with prudent policies.
The Agriculture Department forecast 72.4 million acres of corn to be harvested in 1976, up 8 percent from 1975 and potentially the largest on record if yields are strong. Soybeans were seen on 48.2 million harvested acres, down 10 percent from last year, with first crop estimates due July and August.
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