IN its frustrating struggle against inflation, the Nixon Administration has relied almost entirely on classic, conservative weapons. The Government has severely constricted the supply of money and restricted its own spending. Most economists agree that this is the proper course. But the stubborn persistence of price increases is straining the patience of consumers, labor leaders, businessmen and members of Congress. With increasing urgency, critics are demanding that Nixon "do something"—that is, something more. They propose wholesale slashes in the federal budget, a return to wage and price guidelines, or even severe wartime controls.
Nine-Month Wait. Despite some internal debate, the Administration...
