Business: NIXON AND THE ECONOMY: A Delicate Balancing Act

RICHARD NIXON will probably have to move cautiously in working his will on the U.S. economy. Besides facing a Democratic-controlled Congress, the new Republican President will have to live until at least next summer with budget decisions already made by the Johnson Administration. Moreover, the narrowness of his election victory can hardly be interpreted as a mandate for sweeping economic change. Even his aides admit that Nixon will be forced into the role of an "economic neuter," as one of them puts it, during his first months in office.

As he enunciated them during...