Inflation Warning From Burns Amid Recovery Hope
Fed chairman Arthur Burns told Congress the economy is recovering at a moderate pace but inflation remains a serious threat. He urged maintaining steady monetary expansion, warning against premature tightening while unemployment falls, and noted inflation running around four percent with underlying rates higher.
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Brezhnev Says SALT Talks Delayed By U.S. Hold Up Denied
The White House rejected Brezhnev’s charge that the United States delays block SALT II talks. Press Secretary Ron Nessen called the accusation untrue and said negotiations proceed, with Ford meeting Japanese Prime Minister Takeo Miki to discuss relations and Bicentennial issues.
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