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Nixon shifts goal to 4.5 percent unemployment by mid 1972
President Nixon abandons a full employment target and sets an election year goal of 4.5 percent jobless with inflation near 3 percent by mid-1972. The economic report warns rapid moves to 4 percent could spark inflation and notes structural transitions from wartime to peacetime economy. Industry data and a shift in policy stance are outlined by the Council of Economic Advisers.
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Council of Economic Advisers
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