Wholesale price index soars as unemployment dips
News report details a sharp rise in the Wholesale Price Index led by higher costs for livestock meat gasoline and other goods while the unemployment rate fell from 5.9 to 5.5 percent in June. Many new jobs went to summer students even as inflation is seen rising with a 6 percent implied rate.
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Washington
Labor Department
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Ezra Solomon
Council of ‘Economic Advisers
William Proxmire
Dwis
Joint Economic Committee
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Solomon
Helmut Schmidt Becomes West Germany's New Finance Chief
In Bonn, the 52 year old pipe smoking Helmut Schmidt is named finance minister in Brandt's cabinet reshuffle. The move aims to steady the economy amid inflation fears and stabilize the ruling coalition ahead of the November elections. Schmidt, a Schiller protege, blends socialist ideals with free market policies and faces questions about future policy direction. His background includes WWII service, a stint as defense minister, and rising to Berlin's internal affairs leadership.
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Helmut
de- Behmidt
Witlyfense
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Karl Schiller
Brandt
Schiller
Hamburg University
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Economics
Hamburg
West Germany
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