INFLATION: The Next Step

On the inflation front, the Administration won two skirmishes last week.

>By a single Senate vote (34-to-33) Congress finally reversed itself, allowed the Administration $350,000,000 for subsidies to "roll back" food prices.

>In a decision on New York City printers, the harassed War Labor Board stuck doggedly to its "Little Steel" formula, which limits wage rises to 15% over the Jan. 1, 1941 level.

Did these victories mean that the battle had turned? Economic Stabilizer Fred M. Vinson thought so. He told a radio audience: "We have not won the fight, but we are making progress. ... We have...

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