After looking over the prospects for the second half of 1948, the Federal Reserve Board last week felt bullish enough to risk a prediction. This year's profits, said its June Bulletin, would be even larger than 1947's record $17 billion; dividends, too, would be higher.
Profits and dividends were not the only things that were headed up. Last week the economy's price structure began to feel the impact of the third round wage hike. General Electric Co., which had already boosted home appliances, raised the prices of industrial motors 5% and industrial control equipment 10%. Chrysler joined the automobile price-boosting...
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