"Of all the problems of defense mobilization," said Chief Charles E. Wilson last week, "the fight against inflation ... is the most subtle, the most difficult and the most important." But it did not seem so last week; there was too much evidence of deflation. Commodity prices were dropping (see below), and mortgage credit was tight. Last week Wilson promised builders enough materials to erect 850,000 housing units this year (40% below 1950), but the National Association of Home Builders complained that "the general disappearance of mortgage money" makes it highly doubtful...
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