Despite assurances from the economists that a new boom is coming, many a U.S. businessman last week could not conquer an uneasy hunch that for a while yet U.S. prosperity would be a kind of austere affluence. In a panel discussion of the business outlook sponsored by the First National Bank of Chicago, President Ralph Lazarus of Federated Department Stores predicted that steadily rising personal income would continue to improve retail sales, but added: "We foresee substantial growth, but not a sharp, runaway boom." President Robert S. Ingersoll of Borg-Warner Corp. looked...
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