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Tax hike weighed to slow economy demand
Nixon adviser Stein outlined possible tax increases or cutting the investment tax credit to curb booming demand. He noted inflation may exceed 5 percent, with rates easing later, and stressed restraint in spending and a prudent monetary policy to slow expansion. Whitman cited currency devaluation affecting prices and a shift in U.S. trade balance.
MENTIONED IN THIS ARTICLE
Washington
Nixon
Herbert F. Stein
Council of Economic Advisers
Stein
Marina V. N. Whitman
U.S
Whitman
Shotter