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Newspaper
Southern Illinoisan
Location
Carbondale, Illinois, United States of America
Date
May 29, 1973
Page
9
The Nixon administration faces sharp price rises and eroding purchasing power amid Watergate coverage. Advisers warn factors fueling inflation are temporary, yet a booming economy poses added risk as the growth hits a 15 percent pace in early 1970s data.
The article discusses mounting inflation fears as policy makers debate how to curb price rises. Herbert Stein warns that without policy shifts inflation could accelerate, while officials expect a midyear slowdown and favor selective wage price controls over broad tightening. The Federal Reserve is increasing interest rates to slow growth toward a 4 percent pace into 1974.
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