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Economic slack forecast by leading economists in 1973 outlook
AAP report notes economists foresee a slowdown that could accelerate into recession by mid 1974. They expect inflation to rise but slower, unemployment to edge up to about 5 percent, and a credit crunch unlikely though rates stay high. Some warn a 1974 growth recession or a mild to moderate downturn, with housing and securities sectors at risk and consumer confidence weakening.
MENTIONED IN THIS ARTICLE
Deborah M. Rank
New York
Associated Press
National Bureau of Economic Research
Milton Friedman
University of Chicago
Friedman
Federal Reserve Board
Saulnier
Conference Board