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Economy shows uneven pickup amid inflation concerns
Washington reports Herbert Stein, chairing Nixon's Council of Economic Advisers, says the economy has "stalled to pick up steam" but recovery remains slugish. Unemployment may stay below 6 percent, inflation around 7 percent by December, wages up about 10 percent, with overall growth near zero to 1 percent in 1974. Stein defends administration action, notes no new remedies, urges optimism for households as meat prices fall and shoppers buy, while warning inflation persists.
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Washington
UPD
Herbert Stein
Nixon
Council of Economic Advisers
Stein
White House
U.S
Mike Mansfield
Congress